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Fresh Tax Ruling for Truckies’ Food Allowances
January 25th, 2018Backflip for Truckies’ Food Allowances... The Australian Taxation Office has recently reversed a decision made regarding “reasonable rates” for overtime meal allowances. Rulings in this area typically affect people in jobs such as long-haul truck driving, but applies to everyone who receives a bona fide travel or meal allowance in the course of travelling overnightread more
A Timely Refresher on Director Penalty Notices (DPNs)
January 22nd, 2018Amongst all the communication a business has with the Australian Taxation Office (ATO), it is perhaps understandable that some things can be overlooked. While every effort should be made to take on board all information from the ATO, a Director Penalty Notice (DPN) is one of the most important things not to miss. This willread more
Upcoming Audit Focus Areas for the ATO
January 15th, 2018When it comes to industries or areas of particular interest, The Australian Taxation Office (ATO) is relatively transparent about changes or increases in audit activity. Similarly, the media tends to have its finger on the button to report any news of this sort to the public. There are a few key areas which can expectread more
Bitcoin – Investment Goldmine or Risky Business?
January 11th, 2018No less than a couple of years ago, few people had even heard of Bitcoin, let alone been able to predict its meteoric rise in value. Its recent surge has prompted many to jump on the Bitcoin bandwagon and invest their hard earned money into the cryptocurrency. On one hand, the rising value of Bitcoinread more
The Importance of Insurance Planning
December 22nd, 2017Getting injured or falling ill is more than just a disruption to your daily routine, it can also put your hard-earned wealth at considerable risk. By implementing a well thought out risk strategy, you and your family can have peace of mind and reassurance that even through tough times you will be able to focusread more
Merry Christmas from McKinley Plowman!
December 21st, 2017From everyone at McKinley Plowman, we would like to wish you a very Merry Christmas and a safe and happy New Year! To all of our clients past and present, we thank you for your support and business this year, and we look forward to the opportunity to work with you again in 2018. Toread more
Top Tips for Rental Property Owners
December 13th, 2017Investing in property is one of the most common investment routes people take to increase wealth and grow their asset portfolio. However, rental properties can be challenging to manage, especially when it comes to gathering and keeping the right documents, claiming expenses and the rental process. Complying with tax laws and renting your property outread more
Understanding estate planning and testamentary trusts
November 28th, 2017In the unfortunate yet inevitable circumstance of a person’s death, it is crucial for proper estate planning to be in place to help alleviate any further stress upon those left behind at such a difficult time. The purpose of estate planning is to develop a strategy to manage a person’s assets after they pass away,read more
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