Media
Getting Their Numbers Right
29 June 2012McKinley Plowman & Associates were honoured to received this year's Business Leadership award as part of the 2012 ECU North West Metro Small Business Awards. Read all about our team's achievement in this article from the Joondalup Weekender.
Courtesy of Joondalup Weekender
Migrants urged to obtain advice about tax concessions
9 January 2012Expatriates who receive generous tax concessions for living and accommodation costs are encouraged to obtain professional advice about the impact of changes to the Living Away From Home Allowance (LAFHA).
Proposed budgetary changes, due to come into effect on July 1, 2012, will make it tougher for temporary residents on 457 visas to receive the tax free benefits they currently obtain under the LAFHA.
At present many workers, who come to Australia on 457 visas, are eligible to receive tax concessions – which in some cases can amount to as much as $4,000 per month - under the LAFHA.
The allowance has provided a boost for business owners to attract workers and provide the concessions without the burden of fringe benefits tax (FBT).
Mr Murray McKinley, a prominent accountant who has been advising migrants for over a decade, said from July 1, the LAFHA could only be claimed by people who maintained a home in Australia that was away from their place of work.
Mr McKinley, a director of McKinley Plowman & Associates, said for example if an employee came to Perth and set up and maintained a home there, but then had to work in Kalgoorlie, he or she would be eligible for the allowance.
He said this was markedly different from the current system which enabled a lot of 457 visa holders to claim the allowance on the basis they usually lived overseas and were working in Australia on a temporary basis.
“There is a lot of confusion around about how the changes, which have been introduced as part of the Mid-Year Economic and Fiscal Outlook 2011-12 (MYEFO), will affect one’s entitlements,” Mr McKinley said.
“The best course of action for anyone, particularly those who intend to apply for permanent residency, is to obtain professional advice relating to their circumstances.”
Mr McKinley said permanent residents who were currently eligible for the LAFHA would not be affected by the changes.
However, it was advisable for migrants to find out how tax planning could be used to ensure one didn’t receive any “nasty surprises”.
“There are plenty of opportunities to legally minimise tax through salary sacrificing into superannuation or negatively gearing into investments, Mr McKinley said.
“But the best way to take advantage of these is to plan ahead and obtain advice regarding one’s individual situation.”
Throughout 2012 Mr McKinley will co-host information seminars for migrants with migration agent and lawyer Mervyn Rothstein, of M Rothstein & Co Migration Agents and Lawyers.
The seminars will provide insight into a broad range of taxation and legal issues affecting migrants.
For more information or to register for the free seminars contact McKinley Plowman on 93012200.
Going For Gold
20 May 2011Going for gold...The Sunday Times, April 17, 2011
Reproduced with permission of Sunday Times
whatWOMENwant
10 February 2011McKinley Plowman & Associates have run a series of adverts in our local newspapers focusing on financial advice for women.
The lovely Ann Smythe from our financial planning team features. For more information please contact us.
McKinley Plowman makes the News!
4 January 2011On Monday 3 January 2011 Today Tonight aired an interview with Nigel Plowman, Director on tax effective stategies impacting properties.
Quick turnover key to profits
23 December 2010Quick turnover key to profits... The Sunday Times, December 12, 2010
Reproduced with permission of Sunday Times
Warning on tax debt crackdown
24 November 2010Warning on tax debt crackdow...The Sunday Times, November 21, 2010.pdf
Reproduced with permission of Sunday Times
Beware bad bills
8 November 2009Beware bad bills... Sunday Times, Home Magazine, November 8, 2009.pdf
Reproduced with permission of Sunday Times
SMEs look for outside help on finances
21 October 2009
SMEs look for outside help on finances...WA Business News, 2009.pdf
Reproduced with permission of WA Business News
Office development
21 October 2009Office development...Joondalup Community News, 2009.pdf
Reproduced with permission of Joondalup Community News
Slowdown starts
13 September 2009Slowdown starts...Sunday Times, Home, September 13, 2009.pdf
Reproduced with permission of Sunday Times
Parents to the rescue
16 August 2009Parents to the rescue...Sunday Times, Home, August 16 2009.pdf
Reproduced with permission of Sunday Times
We have moved!
15 August 2009Thanks to you, our loyal clients, giving us your business and support, we at MP+ have outgrown our current office space. We have recently moved into a new state-of-the art purpose-built office which offers facilities for one-to-one consultations, training seminars and group meetings, which will allow us to work more efficiently.
Flexibility a key issue
16 June 2009
Flexibility a key issue...Sunday Times, Home, June 16, 2009.pdf
Reproduced with permission of the Sunday Times
Business urged to use investment tax break
19 February 2009
Business urged to use investment tax break...WA Business News, February 19, 2009.pdf
Reproduced with permission of WA Business News
To invest, or not to invest
24 January 2009
To invest, or not to invest...West Australian, Real Estate, January 24, 2009.pdf
Reproduced with permission of West Australian
True cost
8 January 2009True Cost...Sunday Times, Home, 2009.pdf
Reproduced with permission of the Sunday Times
Sun, sea and spending sprees
5 January 2009
Sun, sea and spending sprees...Australia & NZ Magazine, Summer 2009.pdf
Reproduced with permission of Australia & New Zealand Magazine
Creature comforts big driver for staff
30 August 2008Creature comforts big driver for staff...West Australia, Business, Saturday, August 30, 2008.pdf
Reproduced with permission of West Australian
Boomtown planner shortage
1 May 2007
Boomtown planner shortage...Financial Planning magazine, May 2007.pdf
Reproduced with permission of Financial Planning magazine
