February 2025

Recovering from a natural disaster: what you need to know about tax

As Australia experiences another summer of unpredictable weather patterns, it's essential to be prepared for the unexpected – natural disasters like fires, floods, earthquakes and cyclones can turn your world upside down. While you’re focused on rebuilding and recovery, tax may be the last thing on your mind, but understanding the implications of assistance payments and insurance payouts can help you make informed decisions.

December 2024

Understanding the Australian Government’s plan for cash and cheques

As digital payments become increasingly prevalent, the Federal Government has announced it’s taking significant steps to modernise the nation's payment system while working to ensure that no one’s left behind. This involves maintaining the use of cash for essential transactions and phasing out cheques in a gradual manner.

November 2024

Do you rent out your holiday home?

If you own a holiday home you might rent it out at times when you’re not using it yourself. Remember, you should seek professional advice if you have any concerns. 

If your holiday home is rented out, the rental income you receive is taxable. You can claim expenses for the property to the extent they’re incurred in earning that rental income.

Your expenses will have to be apportioned if:

Halys & Sells 2022 Update

After 34 ½ years full-time in the Accounting Profession and 25 ½ years in full-time Practice from 1 July 2021 John Halys will be semi-retiring to enjoy life post full-time employment.  For those who know John well you could say that he is taking his own advice. 
 
Emma is buying John out of the partnership and the subsequently there will be a change in the business name to Emma Sells & Associates.