May 2024 Newsletter

Newsletter: May 2024 Feel free to download and share a PDF copy of this newsletter: https://krsaccountants.com/wp-content/uploads/2024/05/KRS-May-2024.pdf Selling your home? Beware of a partial Capital Gains Tax liability!  With the temptation for homeowners to cash in on spiralling house prices around Australia, it is important to turn your mind to whether you may only have a partial Read more about May 2024 Newsletter[…]

April 2024 Newsletter

Newsletter: April 2024 Six super strategies to consider before 30 June 2024 With the end of financial year fast approaching, now is a great time to boost your superannuation savings and potentially save on tax. Below are six superannuation strategies to consider before 30 June 2024. Tip 1 – Use the carry forward concessional contribution rules  Read more about April 2024 Newsletter[…]

March 2024 Newsletter

Stage 3 tax cuts – a tax saving opportunity? Legislation giving effect to the government’s revised settings for the Stage 3 tax cuts has been passed by both houses of Parliament with the support of the Coalition. The stage 3 tax cut changes: Reduce the 19% tax rate to 16% for incomes between $18,200 and Read more about March 2024 Newsletter[…]

Radar

When two negatives collide: Property damage and Tax  Newsletter

Many of our clients are located on the East shore of Australia. Two months ago Mother Nature provided a late Christmas gift being a substantial storm colloquially referred to as the ‘Boxing Day Storm’. Several friends and family were without electricity for nearly two weeks and others sustained damage at their property. You may have Read more about When two negatives collide: Property damage and Tax  Newsletter[…]

Tax Tip: Changed Record Keeping Requirements For Working From Home

The ATO recently released a draft tax guidance (PCG 2022/D4) for claiming tax deductions for working from home. You need to be aware of these changes so that you can keep the appropriate records to maximum your tax claims in your 2023 Tax Return. WHAT ARE THE KEY CHANGES? From 1 July 2022, the ATO Read more about Tax Tip: Changed Record Keeping Requirements For Working From Home[…]

How Will The Latest Federal Budget Impact You?

What the 2022 Federal Budget Means for You The Treasurer, Dr Jim Chalmers, handed down his first Federal Budget (an updated budget for the 2022/23 financial year) on Tuesday evening. The good news: there were hardly any tax or superannuation changes impacting small or medium size business. The bad news: with interest rates rising, high inflation and labour costs rising, Read more about How Will The Latest Federal Budget Impact You?[…]