After 48 wonderful years of working for Craig, Barry, Denis, the late Colin Need and our Rawson Verco Need team, Rosalie Kelb has decided to retire. We would like to thank Rosalie for her outstanding dedication as a Client Service Officer and also recognise her genuine care for our business, our clients and our team. We wish Rosalie all the best for her retirement.

We are proud to announce that our client, Rainwise Pools, has received South Australia’s 2023 Fibreglass Pool Builder of the Year Award and their employee, Harrison Hawkins, the Australian 2023 Construction Tradesperson of the Year Award, by the Swimming Pool & Spa Association.

The story is familiar to most of us by now. Last year’s spike in inflation prompted central banks around the world to rethink their loose monetary policy settings. In Australia, interest rates shot up rapidly, delivering a shock many households weren’t prepared for.

Variable rate borrowers have had to deal with their loan repayments rising almost every month. But those who fixed their loans at historically low rates face a different kind of predicament.

The ATO are currently targeting tradies and motor vehicle claims in general. While there is a perception that utes are commercial vehicles and not subject to the same record keeping requirement as cars, the reality may be different. Dual cab utes such as the Toyota Hilux and Ford Ranger, the two top-selling cars in Australia, could be subject to substantiation requirements (e.g. a log book) and fringe benefits tax (FBT) as the extra weight of the dual cab reduces the load capacity. Even a variance between the same model e.g. manual vs automatic, can be the difference in a load carrying capacity.

Since the 2020 financial year many businesses have been enjoying large tax deductions available under various depreciation tax incentives, including the temporary full expensing rules. After 30 June 2023 these incentives have ended, and a there has been a change to the instant asset write off threshold.