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Articles by McKinley Plowman

Act Now: ATO Interest Charges Will Soon be Non-Deductible

March 13th, 2024

Do you have ATO interest charges hanging over you? Hoping to claim them as a tax deduction when you pay them off? If so, read on, because a recent Government announcement aims to put a stop to interest charge deductibility. Previously, general interest charge (GIC) and shortfall interest charge (SIC) could be claimed as aread more

Overseas Retirement for Australians – How to Navigate New Horizons

February 21st, 2024

Embarking on a new chapter in life, overseas retirement presents a unique opportunity for Australians to enjoy a newfound freedom and exploration. As Aussies leave the workforce, the allure of extended travels or even relocating abroad permanently to spend their post-career years requires a careful approach to planning, some parts of which aren’t present inread more

Airbnb Tax Crackdown – Your Compliance Guide

November 21st, 2023

Are you one of the record number of Australians with Airbnb, Uber, or other sharing economy income? The ATO’s recent tax crackdown on the “side hustle” has seen data-matching ramped up to ensure compliance, with inflated deductions and omitted income firmly in their sights. With this increased level of scrutiny, how can you stay outread more

Starting a Business in Australia – A Quick Guide

October 13th, 2023

The allure of entrepreneurship is undeniable, and for many Australians, starting their own business is motivated by the pursuit of autonomy, escaping the 9-to-5 grind, and carving their own path. If you’re considering starting a business, you might be drawn in by the opportunity to purse a passion full-time. Even beyond these personal motivations, businessread more

Is it Time for a Personal Insurance Review?

September 6th, 2023

When was the last time you conducted a personal insurance review? If you can’t remember, or never have, it’s been too long! Over the past few years of ups and downs – COVID, inflationary and cost of living pressures, global conflict, and more – people have naturally started thinking quite seriously about what they wouldread more

Evan Cunningham-Dunlop (Client Case Study)

July 20th, 2023

When Perth-based entrepreneur Evan Cunningham-Dunlop needed a partner to help guide him during a period of intense business growth for Living Online in 2011, he turned to McKinley Plowman. Now 12 years later, his business interests have expanded to include national property publication The Property Tribune, specialist SEO agency Perth SEO Studio, and the soonread more

Forecasting for Business Growth

June 9th, 2023

In the business world, knowledge is a powerful asset. While we can't rely on a crystal ball for predictions, it is undeniably important to forecast the financial performance of your business. In fact, forecasting should be an integral part of your operational strategy. Successful business owners recognise the value of historical data, strategic planning, andread more

Another ATO Rental Property Crackdown

May 5th, 2023

Just as they did in 2019, the ATO are launching a campaign to target rental property owners who incorrectly report income and expenses. Data-matching efforts have identified a tax gap of approximately $1 billion, and unsurprising are looking to recoup those funds. Financial institutions are now obliged to share data with the ATO, and thereread more

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