BK Partners

Loaning money from a private company to an individual or another entity is very common in small family businesses. However, in some circumstances when loans are not made ‘in an arm's length’ manner, this can result in the loan being classified as a Div 7A loan. This can have significant tax cons...

Read more: What is Division 7A?

This article discusses the taxation implications on superannuation and death. It is not intended to be financial or investment advice; if you have specific investment questions we encourage you to contact your financial advisor. For most people currently drawing down their superannuation from their...

When looking to invest, choosing the right tax structure to manage the investment(s) is not always an easy process. However, it is important to determine which structure will be most beneficial for your needs. Key considerations for this include your long term goals for the investment(s) and your fi...

There has been a lot of media attention on the government’s proposed $3 million superannuation changes, and subsequently questions from our clients on how these changes could impact them. Read our insights on this legislation below, to help understand whether your superannuation balance could be a...

ENGAGEMENT TERMSINDIVIDUAL (NON BUSINESS) This document sets out our terms of engagement and the scope of the work to be performed by us within that engagement. Please read it carefully. Terms are accepted on signing and payment for tax return/s. From 1 March 2010 there is a provis...

With 30 June fast approaching, now is the time to review your year-to-date taxable income and determine whether a contribution to superannuation is an effective way to reduce any tax payable. Superannuation contributions can present some generous tax benefits, whether you are a business or an indivi...

With 30 June approaching, it’s important to review your business’s performance and gain a clear understanding of: Taxation position and ongoing taxation commitments Business profitability Taxation commitments for many businesses – including tax instalments – can have a major impact on...

As tax accountants, we are often asked ‘when does personal services income (PSI) relate to me and what does it mean?’ by businesses operating in the service industry. In this article, we answer six frequently asked questions to unpack the fundamentals of PSI. Who does personal services income i...

Employers are required to pay superannuation for their employees and some contractors. This is defined as the superannuation guarantee levy, it is currently 11.5%, increasing on 1 July 2025 to 12%. Superannuation is due to be paid quarterly at a minimum, though it can be paid more frequently (for e...

In recent months, there has been renewed focus by the Australian Tax Office on the classification of contractors and employees within businesses. There are important factors that need to be considered by every business that engages the services of independent contractors, to determine whether they f...

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