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

Budget personal tax cuts and business concessions now law

Several tax announcements from the 2020 Federal Budget have now been passed into law.

These include bringing forward changes to the personal income tax thresholds so that they apply from 1 July 2020. From that date, the top threshold of the 19% personal income tax bracket is increased from $37,000 to $45,000. The top threshold of the 32.5% tax bracket is increased from $90,000 to $120,000. The low income tax offset increases to $700 and the low and middle income tax offset (up to $1,080) is retained for 2020–2021.


A range of tax concessions already available to small businesses have been extended to medium sized businesses as well, and businesses with turnover less than $5 billion can deduct the full cost of eligible depreciating assets that are installed ready for use between 6 October 2020 and 30 June 2022.

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

Christmas Trading HoursChristmas Tree

HG Khouri & Associates will close on Wednesday 23rd December 2020 at 3pm and reopen on Monday 11th January 2021.

Office hours - our regular office hours are
Mon - Thu 8.30am - 5:00pm; Fri 8.30am - 4:00pm

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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