R & R

As we approach this time of year, many of us are looking forward to some long awaited “R & R” - Rest and Relaxation. The Christmas - New Year period provides the opportunity to recharge our batteries. It is also a good time for another “R” being Reflection.

In addition to New Year's resolutions, we encourage you to take some time to reflect on your personal and business position. For some it might be time to be more decisive about retirement planning. For others it may present the opportunity to take a fresh look at your business. Time away from the busyness of life can bring a fresh perspective.

Then, why not book a time to see us to help convert your reflections into an action strategy. Turn your reflections into reality.

Client InFocus - Burns Bridge Australia

Building excellent relationships with clients and marketplace stakeholders is Burns Bridge's key to success.

Burns Bridge provide project and construction management and have some of Australia’s most respected organisations as clients. Now celebrating their 20th birthday, they regard the importance they place on client relationships as fundamental to their success.   Read more

Making the most from your holiday house

Holiday season is just around the corner.  Your holiday house is more than just a place to relax.

Enjoying your holiday house as a place to wind down and relax is important. However, such a valuable asset also needs to be properly managed as a financial investment. With holidays in the air, we discuss the tax implications.

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Staff InFocus - The walkers

We reported this time last year about our intrepid walking team who participated in a 50 km walk to raise money for leprosy sufferers.  After a 12 month rest, they laced up their walking shoes and took off to do it all again.

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The Count Report

Read the  November Count Report including articles on:   Make your tax refund work for you   Does your portfolio need reviewing?   Australian sharemarkets - Are your expectations realistic?   Read the report

Charities and commercial activities- Stop Press

In a recent court case, the Federal Court has held that raising funds through a commercial enterprise did not preclude the organisation from being a charity. According to the judge, the question that should be addressed is whether the organisation’s purpose of making the profit is exclusively charitable. This decision is not entirely consistent with the Tax Office’s recent rulings on charities. At the time of writing it was not known whether the Tax Office will appeal the decision.

Review of not-for-profit sector accounting standards

The Australian Financial Reporting Council (FRC), responsible for overseeing the setting of Australia’s accounting standards, is reviewing the financial reporting standards for the not-for-profit sector.

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Paying your tax debt by instalments

Under some circumstances, the Tax Office may enable you to enter into a payment arrangement if you owe them money.

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Around the firm

Last year (Autumn 2005), we wrote about a former staff member, Peter Scarborough, who had moved to Indonesia to bring much needed medical assistance in the refugee camps. Peter and his wife Esther have recently taken in a young child. Johannes had been abandoned when still just a baby. Saward Dawson has decided to financially support Johannes as he grows up. Cliff Dawson did the Great Victorian Bike Ride in November, raising a substantial amount of money for the Scarboroughs.

Our Taxation Manager Sam Keats is due to give birth to her second child in early January. She will commence a period of family leave during December.

We have recently welcomed Kirsty Farrugia to our Business Services team and Stephen Gunaratnam to our Audit team as accounting graduates.

We also extend our congratulations to Rachel Smallwood, who commenced with us as a cadet in 2003. She has recently completed her degree at Melbourne University having balanced both work and study over the past four years.

Office closure

Our office will close on Thursday 21 December and will reopen on Tuesday 2 January.

Disclaimer This publication has been prepared on the basis of information available at the date of preparation. The information is general in nature and is not to be taken as substitute for specific professional advice. We recommend that our advice be sought on specific issues prior to acting on transactions affected.