Brealey Quill Kenny industry news and updates

The HECS-HELP benefit provides an incentive for graduates of particular courses to take up related occupations or work in specified locations by reducing: compulsory HELP repayments, or HELP debt. You may be eligible for the HECS-HELP benefit if you have...

The Federal Government has responded to pressure and dropped its plan to introduce a 32.5% tax on backpacker workers. Instead, working holidaymakers will be taxed at a lower rate of 19%, starting January 1, 2017. They will still be charged...

The Australian Government has increased the 32.5% tax threshold from $37,001–$80,000 to $37,001–$87,000. What does this mean for employers? The tax tables have changed for employees who earn over $80,000. The new tax tables are available now and should be...

If you restructure your small business (for example, from a company to a trust) you may be able to apply the small business restructure roll-over concession. You can transfer certain active assets without incurring an income tax liability, but there...

As of 1 October 2016, some transactions between Australian and overseas businesses are no longer subject to Australian GST. What are the changes? GST-registered importers no longer need to identify the exact amount paid or payable for international transport, insurance...

Have you received an email from the ATO asking for your personal details or offering you a refund? We have received a number of reports of scam emails appearing as though they are from the ATO; these may contain malware...

The update below has been provided by our affiliated Financial Planning firm, Barns Financial Services www.barnsfinancial.com.au Yesterday the Federal Government announced significant changes to the proposed superannuation reforms that were introduced in the May 2016 Budget. The news that the...

A number of our clients have had their computer systems affected by malware or ransomware. In these instances they have clicked on links or opened attachments which install malicious software. Scammers have then blocked our clients from accessing their files...

For small business entities operating in a company structure, the reduced corporate tax rate of 28.5% will apply for the 2015-16 financial year. To be eligible for this, the company must be carrying on a business and have an aggregated...

The new Small Business Restructure Rollover (SBRR) applies from 1 July 2016 and its objective is to provide greater flexibility for small business owners to restructure their businesses and the ownership of their business assets without having to deal with...