Welcome to HG Khouri & Associates

H G Khouri & Associates was originally founded on forward thinking, innovation and excellence which are qualities our team continues to embrace and practice.

Today H G Khouri & Associates continues to offer a range of talented professionals encompassing technical and industry backgrounds and our focus is on delivering strategic advice, innovative solutions and excellent service to our clients.

News

ATO warning: watch out for tax avoidance schemes

Tax planning or tax avoidance – do you know the difference? Tax planning is a legitimate and legal way of arranging your financial affairs to keep your tax to a minimum, provided you make the arrangements within the intent of the law. Any tax minimisation schemes that are outside the spirit of the law are referred to as tax avoidance, and could attract the ATO’s attention.

The ATO has outlined some common features of tax avoidance schemes, and we can help you to steer clear of them. While it’s not always easy to identify these schemes, the old adage of “if it seems too good to be true, it probably is” is a good rule of thumb.

Click here to read more in our latest Client Alert newsletter.

 

Working from Home during COVID-19

Due to COVID-19 your working arrangements may have changed. If you have been working from home, you may have expenses you can claim a deduction for at tax time.

Tracking these expenses can be challenging, so the ATO have introduced a temporary shortcut method. It's a simple way to calculate these expenses with minimal record keeping requirements. The shortcut method initially applied from 1 March 2020 to 30 June 2020, however it can now be applied up until 30 September 2020.

This means, you will be able to use the shortcut method to calculate your working at home expenses for the period from:

1 March 2020 to 30 June 2020 in the 2019–20 income year, and
1 July 2020 to 30 September 2020 in the 2020–21 income year.

More information is available at the ATOs website or by contacting our office.

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