October 2024 | VOLUME 195
KSW Newsletter for Clients and Associates of Kreston Stanley Williamson
Exploring AI Opportunities and Challenges: Insights from an Industry Roundtable
At Kreston Stanley Williamson (KSW), we are committed to leveraging AI to enhance our services. Recently, our IT Manager, Markus Goebel, attended an AI industry roundtable, highlighting AI’s potential to revolutionise business operations. Despite challenges like data privacy, the opportunities AI presents are immense. We are excited about using AI to improve efficiency and service quality, especially as we expand into IT Audits, Security, and Consulting.
Read more for updates on how these advancements can benefit your business.
The “cap space” trap of recontribution strategies in SMSFs
The recontribution strategy has long been a staple for SMSFs, gaining popularity as older trustees consider intergenerational wealth transfer. Recently, the complexity of Personal Transfer Balance Caps (TBC), Transfer Balance Account (TBA) cap spaces, and non-concessional contribution (NCC) caps has made this strategy more intricate.
To navigate this, it’s crucial to understand the basics and be aware of common pitfalls. Read more to see the traps to avoid with proper preparation.
Xero’s New Pricing and Plans: Effective July and October 2024
From July 2024, Xero has new pricing plans. All customers will transition to the new plans by October 2024 with enhanced features. Those with a price increase will see changes by July 2025. No further price hikes will occur within the 2024-2025 financial year.
Read more for additional information on key points and Xero New Pricing Plans.
KSW Hits the Ground Running at This Year’s Corporate Challenge
Eight KSW members joined over 12,000 participants in the J.P. Morgan Corporate Challenge at Sydney’s Centennial Park. The event, supporting the Indigenous Marathon Foundation, saw Jonathan from our Kreston firm in Denmark lead the pack with a 26-minute finish. The team showcased their spirit, ending with celebrations at The Royal Hotel in Paddington.
Read more for our full story.
Kreston Stanley Williamson
*Correct as of 31 October 2024
*Disclaimer – this newsletter has been produced by Kreston Stanley Williamson as a service to its clients and associates. The information contained in the article is of general comment only and is not intended to be advice on any particular matter. Before acting on any areas contained in this article, it is imperative you seek specific advice relating to your particular circumstances. Liability is limited by a scheme approved under professional standards legislation.
