Take outs: Taxpayers were informed of previously unknown historical tax debts by the ATO, with debts ranging from minor amounts to thousands of dollars, highlighting debts on hold that were invisible in account balances.  The ATO resumed offsetting historical debts against refunds after an audit, leading to an 89% increase in collectible debt over four years. Small businesses owe two-thirds of the ATO's $50 billion collectible debt, with the ATO disclosing significant unpaid debts to credit agencies. Late last year, thousands of taxpayers and their agents were advised by the Austral ..read more

Take outs: The Fringe Benefits Tax year (FBT) ends on 31 March. The Australian Government provides a Fringe Benefit Tax exemption for employer-provided electric vehicles under certain conditions, with changes impending for plug-in hybrids after March 2025. Businesses need to carefully navigate FBT compliance, particularly with respect to benefits classification and ATO-targeted areas, to avoid costly penalties. The Fringe Benefits Tax year (FBT) ends on 31 March. We explore the problem areas likely to attract the ATO’s attention.   Electric vehicles causing sparks In late 2022, the ..read more

Know what you’re spending and why Managing business costs in 2024 isn’t just about reducing spending. Here are 7 strategies to manage your business costs in 2024 ..read more

Medical professionals grapple with evolving patient needs, ageing demographics, and the rapid rise of new, costly medical technologies. These challenges become even more pronounced when combined with administrative tasks and non-billable hours. In a recent episode of "Better Off With Kelly+Partners", we spoke to Dr Simi Chanda, a Sydney-based GP with over 17 years of experience. Dr Chanda specialises in Family Medicine and is passionate about Women's Health. Dr Chanda discussed her partnership with Kelly+Partners, saying, "I feel at ease knowing the team acts in my best interest. They're ac ..read more

Get across the ins and outs of going solo for super Contrary to common myths, SMSFs offer compelling benefits for those in the know. Discover if the pros outweigh the cons for SMSFs for self-employed business owners ..read more

The coffee culture in Australia is unique and deeply ingrained in the daily routine of many Aussies. In Melbourne, one of the biggest coffee hubs in the country, 95% of all cafes are independently owned. One of these independent owners is Stephen Coster of Chosen Bean Cafe & Coffee Roaster in Ferntree Gully, Victoria. With over three decades in hospitality, Stephen's café has become well known for expertly crafted coffee and delicious food. Stephen, a client of Kelly+Partners Melbourne CBD, feels he's got more than just an accountant on his side. He sees the team as partners genuinely i ..read more

B Corp is aligning business success with sustainability worldwide, with powerful benefits for people, planet and profit. Learn why and how to join this growing movement. Led by B Lab, the non-profit organisation behind B Corp, Certified B Corporations are part of a wider movement to redefine business success to align with sustainable goals.  With the ‘B’ standing for ‘Benefit for all’, B Corp exists to create a more sustainable and inclusive economy with opportunities for everyone. Recognising that governments can only do so much, B Corp businesses step up, collaborate and innovate to d ..read more

Back in 1971, a landmark event happened in the Sydney suburb of Yagoona - the opening of Australia's first-ever McDonald's restaurant. Fast forward to today, and we see over 970 McDonald's restaurants nationwide, employing more than 100,000 people.  McDonald's Australia is a franchise business, with more than 80% of Australian restaurants owned and operated by individual businessmen and women.  One of these entrepreneurial operators is Mark Halford. Mark started his journey with McDonald's in the late 70s as a crew member before purchasing his first store in 2001. More than 40 yea ..read more

How to find the real value of AI for your business in 2023 From efficiency gains to business growth AI has arrived and it’s transforming businesses in unexpected ways. Discover how this exciting tech can save you time, money, mistakes and deliver deep insights to drive business growth.   ..read more

What are the financial implications of sustainable business practices in 2023? Get across the costs and benefits of going green You don’t need to go out of business to save the world. Discover how a well-considered sustainability strategy can pay dividends for people, planet and profit.   ..read more