News


Cyber attacks and scams

In an increasingly digital world, cyber security has become a critical concern for our clients. By understanding the risks posed by cyber threats and scams, and by implementing proactive security measures, clients can safeguard themselves from the potentially devastating consequences of falling victim to a scam or a cyber breach.


RAA update on the August/September 2022 Flood Grants

If you have been approved for a Special Disaster Grant or Rural Landholder Grant for the floods that occurred from August/September 2022 and you haven’t yet claimed the maximum approved grant amount, you can still submit additional invoices to claim via the RAA website.


Super Contribution Caps to Increase on 1 July

For the first time in three years, the superannuation contributions are set to increase from 1 July 2024.


Stage 3 Tax Cuts: A Tax Saving opportunity

Many taxpayers and their advisers focus on timing issues around year-end by deferring income and bringing forward deductions.


Cyber Attacks & Scams

In an increasingly digital world, cyber security has become a critical concern for our clients. By understanding the risks posed by cyber threats and scams, and by implementing proactive security measures, clients can safeguard themselves from the potentially devastating consequences of falling victim to a scam or a cyber breach.


Nurturing Financial Growth and Community Prosperity in Regional Australia

Nurturing Financial Growth and Community Prosperity in Regional Australia In a recent interview with Regional Australia Bank, our Managing Director of Forsyths, Andrew Kirk, shares the story behind this esteemed financial institution and its commitment to both financial excellence and community well-being.


Sharing information and knowledge that are relevant can help foster more creative solutions

They say there are only two certainties in life: death and taxes. But in the world of financial services, we know there are a few more!


Returning to Work After Retirement

Most people look forward to retirement as it is a chance to finally take time to relax, enjoy life and do things they never had time for when they were working.


Collectables – and inherited jewellery

The ATO knows that many business owners naturally help themselves to their trading stock and use it for their own purposes.


Tax issues when dealing with volunteers

From bushfire relief groups, sporting clubs, environmental groups, charity associations and many more, volunteers are an indispensable workforce and support network for many organisations. For most, if not all, having volunteers ready to lend a hand is pivotal in them being able to function or survive.


Forsyths Spreads Joy this Christmas with their Build a Bike for Charity Initiative

Forsyths, a leading regional Accounting and Financial Services firm, recently celebrated its annual Firm Day, by blending team building with community giving. The unique event brought together teams from their five regional locations to assemble 15 bicycles from scratch, each destined to bring holiday cheer to families in need.


Don't Ignore Those Tax Debts: The ATO Won't!

Whilst the ATO went out of its way to assist businesses doing it tough during the COVID lockdowns, a more robust approach to collecting outstanding tax debts now seems to be the order of the day.


Two "Main Residences" is Possible

The CGT exemption for a person’s home is only available in respect of one home owned at any given time.


Taken Goods for Private Use? Here's the Latest Values

The ATO knows that many business owners naturally help themselves to their trading stock and use it for their own purposes.


Lost or Destroyed Tax Records? Don't Panic!

Now and then, taxpayers may find themselves in a situation where they simply have no records to back up a tax claim. 


Give Yourself a Super Gift This Christmas

Give yourself the ultimate gift that doesn't cost a thing – a super to-do list which is a gift that will benefit you now and in the future.


Adapting to changing weather and economic conditions

Staying ahead of the curve is essential. As we continue to witness the impact of changing weather patterns and economic fluctuations on farming operations, it becomes increasingly clear that adopting smart financial farming strategies is not just beneficial - it's crucial


Cyber-attacks

Cyber-attacks are always prevalent and reaching the news headlines more and more frequently. Bad actors can do a lot of damage to your data and systems. And they're always finding new ways to break in. So, at Forsyths we urge you to be careful and protect yourself online.


How to nominate a superannuation beneficiary

There are many types of nominations offered by different funds. Knowing which one suits your circumstances is key to ensure your superannuation ends up in the right hands.


Qualifying as an interdependent or financial dependant

A question that often gets asked when dealing with death benefit nominations is whether a person will qualify under the interdependency or financial dependency definitions. This is an important consideration as meeting the dependency criteria will enable potential beneficiaries to qualify as a dependant and therefore allow them to receive a death benefit.


When two bonuses are not enough... Introducing the Energy Incentive!

If you’ve been putting off upgrading the inefficient office air-conditioner, a new 20% bonus deduction might just be the incentive you need to help beat the heat before it arrives with a vengeance!


Who is a resident for tax purposes?

A person’s residency for tax purposes can be one of the most difficult issues to determine in Australian tax law. And it is not just a question of whether a person is a ‘citizen’ of Australia.


Are you eligible to make a personal deductible contribution?

Personal deductible contributions can allow individuals to claim a tax deduction for contributions they have made to superannuation provided they meet certain requirements. So what are these requirements and what should you look out for?


Don’t overlook the CGT small business roll-over concession

The CGT small business concessions are invaluable to those who make a capital gain from a small business. They can eliminate a gain entirely; they can reduce a gain; and they can allow for the gain to be CGT-free if paid into a superannuation fund.