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 now for the GST?

Looking forward 100x100Fifteen years after the introduction of the GST in Australia debate still rages over what should be taxed and whether the GST rate should increase.

Unless the Government changes the GST Act, any change requires the approval of the States and Territories. The Treasurers’ workshop late last month resolved to keep the GST rate at 10% but enable a series of other changes. We look at the key areas of change…  MORE

Treasurer raises ‘idea’ of personal tax cuts

Idea 100x100Who doesn’t like a tax cut when they personally benefit from it? In a recent speech, the Treasurer said that personal tax cuts were required to prevent ‘bracket creep’ – that’s jargon for what happens when the tax rate thresholds don’t keep pace with inflation and more people are pushed into a higher tax bracket (they get taxed more and potentially lose access to benefits but are economically standing still).

The last change to the tax brackets was in 2012 to increase the tax-free threshold. The Government estimates that in the next two years, 300,000 Australians will move into the second highest tax bracket. And, by 2025, 43% of taxpayers will be in the top two tax brackets…  MORE

Should your SMSF buy property in the United States?

US Money tree 100x100One of the most common questions from clients with a Self Managed Superannuation Fund (SMSF) is, can I buy property? Followed by the second question, can I buy property in the United States?

SMSFs provide investment flexibility for those that understand the rules. They can also be a significant liability if you get it wrong. There are a few key things to check before purchasing a property  MORE