5 Most Common Tax Mistakes & How to Avoid Them
As a small business owner, you deal with a multitude of obstacles. Throw taxes into the mix, and it can be a minefield trying to navigate in conjunction with your everyday business activities. We understand it’s not easy and sometimes mistakes are made, which can be costly for you and may also put you on [...]
5 Minutes With… Christian Foster
Christian began his accounting journey at Hoffman Kelly in January 2021, where he initially worked for four days a week while finishing his degree. Progressing to a full-time role after his studies is a significant milestone that demonstrates Christian's hard work, dedication, and value to the Hoffman Kelly team. We sat down with Christian to [...]
Tax Time Strategies with Hoffman Kelly
As a small business owner, you know managing finances is crucial to the success of your business. However, when it comes to tax planning, it's easy to feel overwhelmed and unsure of where to start. With the end of the financial year fast approaching, don’t leave it too late to get on top of your [...]
6 Steps to Drive Profitability in the Construction Space
Construction industry businesses, this article is for you! Whether you're a master of residential or commercial projects, or specialise in plumbing, plastering or pool installations, don't miss out on these essential pointers. One of the biggest challenges you’ll encounter as a business owner is maintaining steady profitability. It may seem daunting, but there's a simple [...]
5 Minutes With… Abdul Kabbara
In 2021 Hoffman Kelly welcomed Abdul Kabbara into the team. We decided to sit down and learn a little bit more about his life outside of HK. If you could only watch one movie for the rest of your life, what would it be? Any movie starring Will Ferrell, but if I had to choose, [...]
Fringe Benefits Tax: Essential Information for 2023
Are you an Australian employer providing non-cash benefits to your employees? Then you need to know all about Fringe Benefits Tax (FBT), the tax imposed on such benefits. The FBT year runs from April 1st and ends on March 31st. Employers who provide fringe benefits to any employee or associate must lodge an FBT return [...]
100% Depreciation Claims: Temporary Full Expensing Ending Soon – Boost Your Business Cash Flow
Are you aware of the upcoming changes to the current Temporary Full Expensing regulations and what this means for your business? If not, here is everything you need to know! Navigating Australian tax laws and regulations can be tricky, especially when it feels like the rules are ever-changing. One of the more significant changes for [...]
Maximising Potential: Small Business Tech & Skills Boost Programs
In 2023, small businesses have an opportunity to invest in their future and stay competitive in the digital economy with two government initiatives: Small Business Technology Investment Boost and Small Business Skills and Training Boost.The boost measures are not currently law, but draft legislation is being considered. Once passed through parliament, the programs will allow small [...]
Hoffman Kelly Explains: Division 293 Tax – Additional Tax for High Income Earners
At Hoffman Kelly, we understand that taxes can be confusing and overwhelming. That's why we broke down what Division 293 Tax is and how it may affect you. What is Division 293 Tax? Division 293 Tax, also known as the Additional Tax for High Income Earners, is a tax imposed on concessional superannuation contributions for [...]
11 Proven Strategies to Grow Your Medium-Sized Business in 2023
Business improvement strategies are essential for medium-sized private businesses to stay competitive and grow in today's ever-changing market. Given it’s the start of the year, there is no better time to review, develop and implement business improvement strategies. Here are some key strategies collated from our team of experts, that can help improve the performance [...]
5 Minutes With… Carole Li
We sat down with senior accountant, Carole Li today to chat all things from her role here at HK to growing succulents. It turns out that Carole has quite the green thumb! If you could only watch one movie for the rest of your life, what would it be? The Notebook Who is your inspiration? [...]
Hoffman Kelly Explains: Director Penalty Notices
Over the last two years of the COVID-19 Pandemic, the Australian Taxation Office (ATO) has taken limited recovery action and a lenient approach to businesses with outstanding tax debts. However, as Amelia McMullan describes, change is already in motion. “That time has passed, and we are seeing a steady increase in ATO debt recovery action. [...]