Here, our financial experts take a close look at what’s happening in the world of finance.
We uncomplicate breaking announcements from the Reserve Bank of Australia (RBA), the Australian Taxation Office (ATO), the Australian Securities and Investments Commission (ASIC) and the Federal and State Governments so you can understand how those changes will impact you, your family or your business.
If you’re wanting to stay up-to-date on topics such as interest rates, tax planning, superannuation, the Federal Budget, incentives and schemes, HELP debt, deductions, concessions, depreciation, investment properties and much more, this is where you’ll find the answers.
Knight is with you every step of the way as you strive for financial success. If you’d like some additional information regarding any financial news, please reach out for a consultation to plan your next step.
Australian Financial Review lists nation’s leading accounting firms: NKH placed in top 50
NKH Business Advisors & Accountants are pleased to announce our recognition in the Australian Financial Review’s Top 100 Accounting Firms list. The list, released earlier this month, offers a broad scope of the performance of the industry’s leading firms, with rankings based on total revenue and revenue growth. NKH Business Advisors & Accountants placed 50th, proudly joining the big four firms Deloitte, Ernst & Young, KPMG and PwC. As one of Western Australia’s largest firms, we pride ourselves in fostering
End of Financial Year Tax Planning Tips – Superannuation
The concessional contributions cap was reduced to $25,000 for everyone from 1 July 2017. From 1 July 2018, individuals with a total superannuation balance of less than $500,000 at the end of a financial year will be allowed to make additional concessional contributions in the next financial year by accessing unused concessional contribution cap amounts carried forward from the previous five years. Although the measures start from 1 July 2018, in practice, only unused amounts of the concessional cap from
End of Financial Year Tax Planning Tips for Individuals, Investors and Trusts
Pay any super contributions intended for the 2018 year by 26 June (so they are cleared to the superfund account by Friday 29 June). You will need to subtract from the threshold any employer superannuation (including super guarantee) that will have been physically paid to your fund in the 2018 Financial Year when calculating the remaining concessional cap of $25,000. From 1 July 2017 you are able to claim a full deduction for personal super contributions you make to super,
End of Financial Year Tax Planning Tips for Businesses
Ensure any eligible bad debts are written off correctly through your accounting software or the decision to write them off is documented correctly in a director’s resolution. Consider the purchase of new assets costing up to $20,000 each (small businesses only – aggregated turnover of less than $10m). This concession has also been extended in the recent Federal Budget 2018-19 to 30 June 2019. Ensure a full stock take is carried out, including scrapping obsolete stock (although not required for eligible small
Part1: Keeping your nest eggs in line – a SMSF approach
Keeping your nest eggs in line With Easter upon us, it’s a good time to be contemplating our nest eggs. The majority of us will retire at some time and ideally enjoy the continuity of living standards. The earlier we make the commitment to start saving, the more likely this is to happen. We’re fortunate in Australia to enjoy a supportive tax regime for superannuation, making it the most attractive long-term savings method. Self-Managed Super Funds (SMSF) are now the
Leaping into the New Year
If, like us, you’ve returned from the holidays and had to hit the ground running, you could be thinking 2018 is going to be a different kind of year. If your pre-Christmas planning was effective, you’ll be well positioned to take this in your stride and already be making inroads into the new year workload. If you’re already trying to catch your breath and longing for a weekend break, you may need to take a strategy stop and implement some
MSWA Ocean Ride – Team NKH Knight
While we were cuddled up in bed early last Sunday morning Mat, Dean and Terryn were already wedged into their new NKH Knight cycling outfits and loading up on fluids in anticipation of completing the 100km ride in the MSWA Ocean Ride. They each did the uniform proud and performed well. The de-briefing that we overhead in the office on Monday morning included commentary about a punishing headwind at the end of the race, late cramping and how good everyone looked in
WA Financial Planner Takes Top Honour
Jason Featherby, Director of Knight Financial Advisors, has been recognised as one of the top 50 most influential financial advisers by Financial Standard. The list, which curates financial advisers who have made an enormous impact in their community, was released earlier this month. To be considered, a financial adviser must have a focus on community building, honing their skills by being active in local community work and charities. As a founding Director of Knight Financial Advisors, Jason designed the business
SufferFest Rottnest Triathlon Report
[cs_content][cs_section parallax=”false” style=”margin: 0px;padding: 45px 0px;”][cs_row inner_container=”true” marginless_columns=”false” style=”margin: 0px auto;padding: 0px;”][cs_column fade=”false” fade_animation=”in” fade_animation_offset=”45px” fade_duration=”750″ type=”1/1″ style=”padding: 0px;”][cs_text] On Saturday 11 November some of the NKH Knight staff participated in the Sufferfest Triathlon event on Rottnest Island. Here is a report from Simon Howard – the CEO’s desk. A beautiful start to the day followed by an unexpected curveball The day started well with warm weather and a breathy easterly breeze making the ferry ride to Rottnest about as