Where to next?

This is what we’re asked by many people and the reason why our clients chose Hayes Knight.

Our clients know we are good at the fundamentals – accounting, tax compliance, and audit – but they come to us because not only are we good at the fundamentals, we have the expertise to help them identify, structure, and secure, their future … their next step.

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What to expect in 2015

The Economy

It’s almost impossible to predict what the local and global economic environment has in store for us in 2015. The ‘who knows’ factor is adding to uncertainty and in general, business is not ramping up for growth but maintaining a ‘steady as she goes’ approach – meaning low investment and jobs growth…  More >>>

Politics & Taxes

The last Federal Budget contained a series of severe cuts. Some of those have passed Parliament and become law while others are pending the outcome of negotiations with the minor parties, while others have died a slow and protracted death. Keeping track of what announcements are now law is difficult…  Here’s a quick summary>>>

What Now for Your Business?

The key to survival and growth this year is constant monitoring and adjustment. The environment we started with on 1 July 2014 is already quite different.

Keep an eye on top line growth as much as the growth of your bottom line. Keep your focus on increasing your market not just cost cutting to make the numbers look right…  More >>>

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What Now for Your Superannuation?

A positive this year is the reform of excess contributions tax that is currently before Parliament.

If passed, the amendments will enable individuals the option of withdrawing contributions in excess of the non‑concessional contributions cap and 85% of the earnings.

If you choose this option, no excess contributions tax will be payable and any related earnings will be taxed at your marginal tax rate.

That’s quite a difference to the current system that can apply a tax of up to 93%. And, the changes apply retrospectively to excess contributions from the 2013/2014 financial year.

For those with SMSFs, make sure your fund is acting within the rules… More >>>

What Now for You?

The impact of Government policy is likely to be the biggest issue for many individuals but at this stage, it is unclear how and when the Government will seek to recoup the deficit. That leaves the regulators to try and plug the hole.

A key target is individuals with overseas sourced income – if this is you, you need to be absolutely certain about what income is taxable in Australia… More >>>