Edney Ryan Chartered Accountants

It’s Christmas time….what’s tax deductible? December 2012 By Matthew Stewart, Director – Edney Ryan Chartered Accountants So it’s just about the time you are thinking “What are we going to do for our staff for Christmas” or “I hope my employer is going to put on a huge show for the festive season and it’s going to be big because... Read more

Recently reading a copy of Jane Eyre, when she was asked where the wicked go after death, Jane replied ‘They go to hell’. When asked what should be done to avoid hell, Jane answered ‘I must keep in good health, and not die.’ But of course the grim reaper comes to us all eventually and when he does, that other... Read more

From 1st July 2012 the private health insurance rebate will be income tested, and there are changes to the Medicare levy. Full details can be viewed at the Department of Health and Ageing site. The changes will operate as follows from 1 July 2012: Unchanged Tier 1 Tier 2 Tier 3 Singles Families ≤ $84,000 ≤ $168,000 $84,001-97,000 $168,001-194,000 $97,001-130,000... Read more

The federal budget has been handed down and the promise of a return to surplus delivered. Here in this issue of On Balance, we highlight some budget changes that are likely to be of particular interest to many of our clients. Spending Cuts Significantly major cuts have been made to defence spending, overseas aid and the 1% reduction of the... Read more

We’ve recently had several property investors come to us with an assumption that their investment properties constructed prior to 1984 will not allow any significant depreciation for the cost of construction. This is not entirely correct and we fear there are too many investment property owners failing to obtain all the benefits of the allowable deductions for their property. Consider... Read more

To some people the term “family business” will awaken connotations of poorly managed, nepotistic organisations that lack the corporate professionalism of public companies held accountable to shareholders. In our experience this is an incorrect stereotype of the entities which account for 70% of the total number in Australia with an estimated $4.3 trillion of wealth. Family businesses drive the Australian... Read more