2016 End of Financial Year Checklist

Defer your incomeIncome becomes taxable when it is derived. If your business operates on a cash basis, this occurs when you receive the income. If instead, you operate on an accruals basis, then the income is derived when you have completed the work or the sale. So, either way, as the end of the year […]

Tax Time Count Down

With 30 June 2016 just a few weeks away there are 3 SUPER things you need to consider before then: 1.     Make concessional contributions to receive a maximum tax deduction;2.     Pay the minimum pension.  This ensures your fund’s income is tax free;3.    Check your NCC cap before making further non concessional contributions. Concessional ContributionsThe Concessional […]

5 Steps for mitigating tax penalties on private company borrowings

Introduced almost 19 years ago, Division 7A and its various exemptions apply to all private companies, their shareholders and shareholder associates across the country.  While I consider this matter an Accounting & Tax 101 function, I regularly see it applied incorrectly which is concerning when you consider the significant tax penalties it can bring. Good […]

New look for Rosenfeld Kant

It is with much excitement that we announce we have a new visual brand, a new website and a whole new financial planning division at Rosenfeld Kant. Our new brand: We have been careful to retain our warm red and gold as a tribute to our history and our long held relationships with our clients. However, we are also a […]