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  • GST Collected at Settlement for New Residential Premises and New Developed Land

    The new GST withholding rules for New Residential  are now law and apply from 1 July 2018 on contracts entered into after this date. Designed to counter property developers who use insolvency to avoid remitting GST on the sale of new residential premises, these new measures require purchasers of new residential premises or potential residential […]

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  • New Rules for Residential Property Investors

    New legislation is now in place to deny deductions for residential property investors on travel expenses incurred in inspecting their residential rental properties and depreciation on “previously used” plant and equipment. This applies to individuals, discretionary trusts and SMSFs (but not companies) and is effective from 1 July 2017. The first measure applies to deny […]

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  • FBT on Vans and Utes

    By Emma Gurr Doesn’t just the thought of having to pay fringe benefits tax on your Van or Ute sound outrageous! As some of you may be aware the ATO has recently defined it’s meaning of “minor, infrequent and irregular” private use. The ATO previously didn’t have a definition for this meaning so if your […]

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  • Brave new world of VCFO

    What is a VCFO? VCFO or Virtual Chief Financial Officer. I would describe this person as an adviser who can give you the peace of mind that all your finance needs are taken care of. A good VCFO is someone with a strong background in finance, accounting, tax and cashflow planning. A great VCFO is […]

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  • About Me

    My name is Lejo Owendyk, I am the MD of Kennerlys in Perth, together with my team, we act as trusted advisors for 500+ families across Australia. We advise and assist clients to grow stronger businesses, advise them how to protect their business, and act as a go-to team of professional advisors. This blog is about […]