Edney Ryan Chartered Accountants

This update comes to you the morning after Joe Hockey delivered the Abbott Government’s first Federal Budget. By last night most of the headline issues had been telegraphed in leaks to the media over recent days.  Here is a link to the detailed budget bulletin released by the Institute of Chartered Accountants and running for 56 pages. Here I highlight... Read more

Foreign residents and Australians who have lived abroad may be affected by recent changes to the capital gains tax (CGT) discount. This will have implications for many of our Expat clients, who will not fully realise the capital gains tax discounting expected upon sale of a property. Previously if you had a capital gain, for example from the sale of... Read more

At its meeting today the Reserve Bank Board announced interest rates would remain unchanged at the record low level of 2.5%. The last rate cut took place in August 2013. In their statement, the Board said “monetary policy is appropriately configured to foster sustainable growth in demand and inflation outcomes consistent with the target. On present indications, the most prudent... Read more

Do you have a Capital Gains Tax issue? Most commonly, a significant capital gain arises if you sell a high value investment property, or your business is acquired, sold or floated. If you don’t have any capital losses to offset your gain it can be disheartening to hand over hundreds of thousands of dollars to the tax man. Consider a... Read more

It is becoming increasingly popular to borrow to invest in real estate through a self-managed super fund. There are many clients for whom this strategy is beneficial, as long  as the financial plan addresses the limitations of this approach. Understand the restrictions: You’ll need to be very well read or well advised to ensure that you follow the strict rules... Read more

NEW Pocket Tax Guide Our handy booklet containing the most commonly used tax rates and superannuation information is now available. Submit your postal address and we’ll post one out to you.

A new scam is being reported. A phishing email claiming to be from the ATO is currently circulating. The email claims that the recipient is entitled to a tax refund and states they should click the embedded link and complete the online form. Do not click on the link in the email as it opens a fake webpage that will... Read more

Edney Ryan proudly supported the Sydney World Press Photo Event: Portraits of Mercy Ships Patients. Mercy Ships exists to address the critical shortage of health care services in the developing world. More than 10,000 free surgeries and other transformational health care services are performed for some of the poorest people on earth each year by Mercy Ships. Consider supporting this... Read more

If you earn less than $48,516 per year (before tax) and make after-tax super contributions, you are eligible to get matching contributions from the government. The amount of the co-contribution reduces the more you earn over $33,516. To work-out how much co-contribution you are eligible for, try MoneySmart’s Calculator.

Businesses that increase the number of employees in NSW could be eligible for a $5,000 payroll tax rebate, under the “Jobs Action Plan” which is designed to give businesses an incentive to employ new workers and expand their enterprises. To be eligible for the rebate, the new position can be full-time or part-time, where the role is performed mainly in... Read more