Snapshot of what’s happening within the accounting industry and our firm

CAN MY SMSF PURCHASE A RESIDENTIAL PROPERTY FROM MY BROTHER?

Buying residential property is not just about finding the right property even though this is often the most time-consuming part. Don’t fall into the trap of purchasing from a related party even if it’s at market value.

It’s important to remember that SMSFs have strict investment rules so don’t get caught out by not doing your homework before making a decision.

Click here to read our full article and should you require assistance in understanding what your SMSF can invest in, please do not hesitate to contact us.

CYBER ATTACKS:  HOW TO PROTECT YOURSELF AND WHAT YOU HAVE TO DO IF YOU HAVE ONE!

We are all very aware of how technology and the internet and cloud-based software has changed our businesses and our daily lives.

A cyber attack can become very expensive for businesses. The financial toll of a cyber attack should be a sufficient motivator to prioritise cyber security.  A cyber security specialist estimated that 60% of businesses go out of business within 6 months of a major cyber breach.

To view our full article, please click here and should you have any queries please contact your client manager.

IS THAT UTE OR DUAL CAB REALLY EXEMPT FROM FBT?

It is now very clear that not all dual cab utes or 4-wheel drives qualify as eligible vehicles. Instead the private use rules for cars will apply to these vehicles. Care is needed in this area.

To read our article, please click here and, as always, contact us if you have any queries.

XERO UPDATES – WHAT ELSE CAN YOU DO?

Over recent editions of the S & W Insight we have been giving you the update on applications within Xero, or that integrate with Xero, that can help you with your business. This month we have 2 more improvements for you, click here to read the full article.

Kreston Stanley Williamson Team

*Correct as of October 2018

*Disclaimer – this article 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 limited by a scheme approved under professional standards legislation.