Latest News

Main residence exemption myths and misconceptions

The surge in the residential property market continues to attract buyers and sellers, many involving the family home. This article considers the common myths and misconceptions when it comes to being eligible for the main residence exemption.

When it comes to taxation, the family home is sacred. It is often the largest asset a taxpayer will own, and we all know that the family home is exempt from capital gains tax (CGT).

This perception has caused many governments to remain gun shy about making changes that would lessen the generous concession available to homeowners; the main residence exemption (MRE). The MRE is the Commonwealth’s largest tax expenditure item, according to the latest annual Tax expenditures statement 2017, which estimates the revenue foregone in 2017–18 due to the MRE at $74 billion.

The surge in the residential property market, metropolitan and regionally, continues to attract buyers and sellers in droves. While property used wholly for investment purposes falls squarely within the CGT net, the tax treatment of property sales involving the family home is more complex and often blurred by myths and misconceptions. Below are some of the common ones.

How long must I live in a property for before it becomes my main residence?

Ask this question at the pub or a barbecue, and you’ll find answers ranging from three months, six months or 12 months to ‘I’m not sure’. The answer is simple: it is based on fact and there is no specified duration. The factors that are relevant to determining whether a dwelling is your main residence (MR) — previously listed in withdrawn Taxation Determination TD 51 — are set out in ATO web guidance. These are:

  • How long you live there — importantly, there is no minimum time a person must live in a dwelling before it is considered to be their MR;
  • Where your family lives;
  • Whether you have moved your personal belongings into the dwelling;
  • The address to which your mail is delivered (an interesting factor given the increasing use of electronic mail);
  • Your address on the electoral roll;
  • Connection of services and utilities (e.g. telephone/internet, gas, electricity, water);
  • Your intention in occupying the dwelling (but mere intention is not enough).

Clearing up the 6-year absence rule

The above factors are relevant also to the 6-year absence rule in s 118-145 of the Income Tax Assessment Act 1997 (ITAA 1997). It seems everyone has heard of the 6-year absence rule, but many still get it wrong.

Do I have to move back into the property to reset the 6-year period?’

Yes. A dwelling that was your home may be rented for multiple periods of up to 6 years, and can be sold tax-free, but these multiple periods must be punctuated by periods in which the property again becomes your MR.‘How long do I have to move back into a property before it is deemed to be my main residence?’

As discussed above, there is no set period; it is a question of fact whether the property is your MR.

‘Do I have to move back into the property before selling it to be eligible for the MRE?’

No. You do not have to move back into a property and treat it as your MR before you sell it to access the MRE. A dwelling that was previously your home and is rented for no more than 6 years will be tax-free (unless you are a foreign resident, and there are limited exceptions to this broad prohibition). If the property was instead rented for more than 6 years, the taxable gain is pro-rated to exempt the initial 6-year period.

If I rent my home for, say 2 years, it’s always tax-free, isn’t it?’

No. A dwelling that is treated as your MR for 8 years then rented for 2 years will be exempt from CGT. However, a dwelling that is rented for the first 2 years then treated as your MR for the next 8 years will be subject to CGT on a pro-rated basis as the 6-year absence rule is not available in this case.

I rent my home out through Airbnb for a few weeks during an annual festival. It’s rented for less than 6 years at a time, so my home is still tax-free when I sell it, isn’t it?’

No. The 6-year absence rule is available only if the taxpayer ceases to treat the dwelling as their MR. In this case, the taxpayer hasn’t ceased to treat it as their MR; they are using their home to produce income, the utilities remain in their name, their belongings remain in the property, and they remain on the electoral roll. So the rent is assessable (there is no minimum threshold below which it is not assessable) and the property will be subject to CGT upon sale on a pro-rated basis.

‘I don’t have to reset the cost base of my property to its market value when I first rent it, do I?’

Yes. Where the property is first rented on or after 20 August 1996 and would have been tax-free had it been sold just before that first use, the cost base of the property is reset to its market value under s 118-192. This is not optional, does not include stamp duty on purchase and will disadvantage those who first rent their homes in a cooler market than when it was purchased (not the case at the moment).

Holding two homes at the same time 

‘Can I have two properties as my main residence at the same time?’

There is a limited circumstance in which two properties can be treated as a taxpayer’s MR at the same time.

The rule in s 118-140 allows you an overlap period of up to 6 months to access the MRE on two properties at the same time, counting back from when your ownership interest in your existing home ends (date of settlement). This rule acknowledges that, in the real world, we rarely neatly buy and sell homes on the same date.

Importantly, this is not 6 months from buying the new home; it’s up to 6 months back from selling the old one. So if the new home was bought just 2 months before selling the old one, the overlap period is only 2 months — you don’t automatically get a 6-month overlap. If it was bought 8 months before selling the old home, and the MRE is applied to the old one, you will need to remember to account for the CGT on the first 2 months of owning the new home when you come to sell it in 20 years’ time.

‘What about my holiday home that isn’t rented?’

Even though it’s not rented, you still can’t apply the MRE to two properties at the same time. You need to determine which one is your MR when you sell one; the other will be subject to CGT. And you can’t just choose to exempt the holiday home because it has a larger unrealised gain. It is a question of fact whether the holiday house is, or can be treated as, your MR, having regard to the factors listed above.

Be sure to keep good records of your holding costs where you bought the property after 20 August 1991, so costs such as interest on the mortgage, insurance, council rates, repairs and maintenance and land tax can be included in the third element of cost base to reduce your taxable capital gain.

That pesky label on the tax return

Label 18 of the individual income tax return requires taxpayers to disclose if a CGT event has happened to them during the year. Many don’t realise that the MRE is an exemption from CGT, not an exemption from reporting it. So even if the sale of your home is tax-free, you are still required to indicate ‘Yes’, a CGT event has happened.

Getting the timing right

‘Do I pay CGT when I sell the property?’

Unlike stamp duty that is payable by the purchaser on settlement, CGT is not payable on settlement, and it is not a separate tax. The gain is included in the vendor’s taxable income and taxed at their marginal tax rate. It is payable on lodgment of the tax return for the income year in which the contact was entered into, not the year of settlement.

This can sometimes be confusing for taxpayers because the MR days (and any pro-rating of days based on taxable use) are calculated based on the ownership period, which runs from the date of settlement on purchase to the date of settlement on sale.

‘But I intended to live in it …’ 

‘Can I use the 4-year construction rule where I bought land with the intention of building a home on it, but it was sold in advance before I built/moved into it?’

You may have had good intentions, but the 4-year construction rule in s 118-150, which exempts the capital gain by allowing you to treat vacant land or land under construction as your MR, is available only if:

  • the land is acquired, the dwelling is constructed and you begin to live in it within 4 years;
  • you live in the dwelling for at least 3 months; and
  • you are not treating another dwelling as your MR during this period.

A mere intention to build a home on the land and move into it is not sufficient. If you decide to ‘cash in your chips’ and sell the land prior to construction with an approved development application, the MRE is not available.

‘Can we have one each?’

These days, it is not uncommon for a taxpayer and their spouse/partner to each wholly own a property. Section 118-170 is clear in this situation: you get one whole property eligible for the MRE between you. This means that:
(a) you can claim the MRE wholly on your property, exposing theirs to CGT;
(b) they can claim the MRE wholly on their property, exposing yours to CGT; or
(c) you can both claim the MRE on the different dwellings — but the MRE is available only for half the period, effectively reducing the exemption for each of you by 50%.

‘Can I put the CGT into my wife’s tax return because she doesn’t earn as much?’

No. The capital gain, and any rental income, must be assessed to the taxpayer(s) who has the ownership interest in the property. You cannot access your spouse’s or partner’s lower marginal tax rate if they do not hold an ownership interest in the property; and if they do, then only to the extent of that interest.

Other issues

The list of MRE issues is endless, and brevity prevents me from considering any further issues in detail, but the following warrant a passing mention:

  • ‘Can I choose not to disregard a capital loss on the sale of my home?’ (unlikely in this environment, but the answer is no).
  • Don’t forget about the need to obtain a clearance certificate to avoid withholding by the purchaser at 12.5% under the Foreign resident capital gains withholding regime — yes, these rules also apply to Australian resident taxpayers where your home is sold for $750,000 or more.
  • Applying the MRE to chains of deceased estates is a particularly complex area and one which necessitates seeking professional tax advice. The two-year rule in s 118-195, and the availability of a partial or full exemption, depend on a range of factors, including the date of death, date of acquisition and use of the dwelling.
  • Misconceptions with the ‘up to 2-hectares’ adjacent land rule.
  • The treatment of foreign residents, and the life events test. These rules are particularly draconian for Australian expatriates, or those Australian citizens who have been stranded offshore unexpectedly due to COVID-19.

Issues for practitioners

Of concern as we emerge from extended COVID-19 lockdowns in New South Wales and Victoria is the propensity for misinformation to be widely and benevolently spread via the ‘Friday night pub’ or ‘Saturday barbecue’ syndrome. Earnest advice is shared, often based on misconstrued hearsay, leading to the Monday morning telephone call from a client where you inevitably confirm that their proposed transaction is in fact not entirely free from tax.

There can be considerable pressure on practitioners to provide their clients with the answer they want to hear or be pressured into certain results or outcomes. This is a complex area, and a quick question does not always mean a quick or simple answer. It is important to know the law and get the facts straight (particularly timelines and cost base information), so you can combat the hearsayers and ensure your clients don’t get it wrong.

Given the information and digital capability for data-matching that is now available to the ATO, and the current high property prices as people cash in their homes or make the ‘sea- or tree-change due to personal COVID-19 recalibrations’, I would expect the ATO to take an increasing interest in this area.

 

 

Robyn Jacobson, The Tax Institute
28 October 2021

www.accountantsdaily.com.au

Latest Articles

Increase in the number of SMSF members

  On 1 July 2021, the maximum number of allowable members within an SMSF increased from four people to...

Read More

Unpaid client invoices placing greater pressure on SMEs

  The number of SMEs struggling due to late payments is still being felt, according to new...

Read More

ATO provides further clarity on DIN process

  The ATO and the SMSF Association have clarified some of the areas of confusion with respect to the...

Read More

Beware section 99B

  Imagine this scenario: George, who lives in Melbourne and is aged 23, gets a call from his grandmother...

Read More

State and Federal COVID-19 support — January – 2022

The following links are to the latest state and federal government plans, schemes, programs, and initiatives...

Read More

Why more Millennials are turning to SMSFs

The growth trajectory of more Millennial SMSFs is set to continue in the years to come, according to the chief...

Read More

Making the festive season less taxing

As we fly into our second pandemic-impacted festive season, many employers are now, more than ever, looking to...

Read More

Asian Economies (1960 – 2020)

While there is a very rapid escalation with watching and monitoring the economies of Asia, especially China...

Read More

How the best firms are supporting the mental health of their employees

With the recent pandemic, there have been more conversations and questions over the role of the employer in...

Read More

Business Resources – Grants, Assistance, Resources and more.

  The following are some of the links to information on a number of State and Federal initiatives that...

Read More

ATO flags focus areas for combating $33.5bn ‘tax gap’

The ATO says it will be focusing on accessing new third-party data, automating audit processes, increasing its...

Read More

Our 2021 Advent Calendar.

Come back each day and click on the next date for another inspirational quote or poem from some of the...

Read More

Liability limited by a scheme approved under Professional Standards Legislation.

Accounting & Bookkeeping

Modern business demands up to date accurate financial information.

We can take care of all your bookkeeping and accounting needs, including the preparation of your annual accounts and periodic management accounts for tax, business appraisal and planning purposes.

We can also assist with meeting your reporting requirements including Business Activity Statements, PAYG Withholding and Instalment Activity Statements.

We will discuss your requirements with you and provide you with tailored information and constructive advice on a regular basis.

If you would like further information you can contact us on 02 9300 3000 or info@wybengagroup.com.au

Acquisitions & Mergers

Whether you are considering buying or selling a business, we are able to assist you in this transaction by providing experienced advice.

Each transaction is different and needs to be assessed on its individual merits. There are a number of accounting and taxation opportunities with these transactions and our experience can ensure you are maximising your benefits.

If you would like further information you can contact us on 02 9300 3000 or info@wybengagroup.com.au

Budgeting

A good budget is a necessity in a good business plan. It is one of the best business tools we have, allowing us to set financial targets and measure our performance.

In addition to goal setting value, budgets will often improve your chances of acquiring funding. Financers often require budgets as a prerequisite for funding approval.

We have extensive experience with assisting clients in the budgeting process.

If you would like further information you can contact us on 02 9300 3000 or info@wybengagroup.com.au

Business Start-Ups

Before commencing a new business, the following are some of the key items that need to be considered:

  • Decide on the most suitable structure for your business – sole trader, partnership, trust or company
  • Prepare a business plan, cashflow projections, budgets, and trading forecasts
  • Assess your finance requirements, advise on the best sources of finance, and draw up the necessary proposals
  • Establish a good working relationship with your bank
  • Register for a Tax File Number and an Australian Business Number with the ATO
  • Complete registration procedures with Australian Securities and Investments Commission
  • Deal with company secretarial issues
  • Set up a recording system for your internal use and for complying with statutory requirements

Each new business is different and needs to be considered in relation to your individual circumstances and our experience can ensure you are maximising your opportunities.

If you would like further information you can contact us on 02 9300 3000 or info@wybengagroup.com.au

Charitable Institutions

Charitable institutions are set up to hold money or assets and carry out activities for the benefit of the community. In Australia, a variety of charitable institutions exist including:

  • Various forms of charitable trusts
  • Companies limited by guarantee
  • Unincorporated associations
  • Deductible gift recipients
  • Prescribed private fund

Each type of charitable institution brings with it different requirements and benefits. We know the practicalities of these institutions and are able to assist you by:

  • Co-ordinating the preparation of constituent documents
  • Applying to the ATO for an Australian Business Number and Tax File Number
  • Organising tax exemptions where applicable
  • Attending to all compliance and statutory filings

If you would like further information you can contact us on 02 9300 3000 or info@wybengagroup.com.au

Company Secretary

Company legislation requires businesses to perform many administration tasks which take up a lot of valuable company time.

We are able to assist you in the following areas:

  • General advice on company law
  • Company formations
  • Filing of annual returns on your behalf
  • Preparation of all documentation related to minutes and resolutions
  • Maintenance of statutory books
  • Assistance in changes of directors, shareholders, addresses, and office details
  • Bonus Issues
  • Share transfers
  • Registered Office Facility

If you would like further information you can contact us on 02 9300 3000 or info@wybengagroup.com.au

Financial Structures

Having the right financial structure in place for your business or your family means looking at your individual circumstances and ensuring that your assets are being maximised whilst being adequately protected.

We have extensive experience in ensuring our clients have the best financial structure for their needs both now and in the future. We can provide advice on and assist with:

  • Effective structures for asset protection
  • Effective structures for tax minimisation
  • The optimal structure through which to operate your business
  • Structures to assist in succession planning and providing for future generations

If you would like further information you can contact us on 02 9300 3000 or info@wybengagroup.com.au

GST

Every transaction has GST implications. We have experience with these issues and are able to offer expert advice on the implications of GST for your business. The GST related services we offer include:

  • Assistance with registering for GST
  • Filing and adjusting GST returns
  • ATO audit assistance
  • Advice on GST related issues

If you would like further information you can contact us on 02 9300 3000 or info@wybengagroup.com.au

Management Consulting

We are practiced in acting as a sounding board for management, bringing to the relationship years of experience in business growth and analysis.

We are able to check that your business is as competitive, focused, and profitable as it can be and we will work with you to address any issues.

If you would like further information you can contact us on 02 9300 3000 or info@wybengagroup.com.au

Payroll Services

We can provide a comprehensive and confidential payroll service including:

  • Administration of PAYG Withholding, statutory sick pay, annual leave etc
  • Australian Taxation Office filing
  • Summaries and analyses of staff costs
  • Administration of incentive schemes, bonuses and termination payments
  • Assistance with payroll tax and workers compensation obligations

If you would like further information you can contact us on 02 9300 3000 or info@wybengagroup.com.au

Rental Properties

We can assist in a variety of areas in relation to residential and commercial property including:

  • Advice on funding
  • Cash flow analysis of property investment
  • Guidance in tax related areas including negative gearing and capital gains tax
  • Advice on ownership structure
  • Preparation of initial land tax returns and land tax variation returns

If you would like further information you can contact us on 02 9300 3000 or info@wybengagroup.com.au

Clients of Wybenga & Partners Pty Limited can engage our partner firm, Washington Brown, for a competitive price on their depreciation services: Tax Depreciation Quote Request – Wybenga & Partners Pty Limited Clients

Strategic Planning & Advice

Our Strategic Planning Service is designed to assist our clients to develop financially towards the achievement of their lifetime objectives. Our experience and proven results provide our clients with the security that their financial goals will be met.

Wybenga Financial Pty Ltd is an organisation providing wealth creation and management services to private clients.

If you would like further information you can contact us on 02 9300 3000 or info@wybengagroup.com.au

Superannuation

Self-managed superannuation is a flexible means of saving for retirement. It allows you to take control of your superannuation, adopt a customized investment strategy and control fund administration costs.

Superannution law is a delicate area and personalised planning is required for each individual. We have extensive experience in all areas relating to superannuation and can assist in establishing a superannuation fund that will effectively allow you to reach your financial retirement goals.

Services we offer include:

  • Establishment of Self Managed Superannuation Funds
  • Advice concerning Compliance Matters
  • Advice concerning Taxation Benefits
  • Advice on Employer obligations

If you would like further information you can contact us on 02 9300 3000 or info@wybengagroup.com.au

Taxation

We offer a complete range of taxation services and advice based on proven knowledge and experience. Our proactive approach ensures we deliver a consistent service and build solid relationships.

We will work with you to help reduce your tax exposure and provide services including:

  • Advice on all areas of direct and indirect taxation
  • Preparation and lodgement of annual income tax returns for all types of entities
  • Preparation of PAYG withholding variation applications
  • Preparation of activity statements and advice on payment of tax
  • Assistance with GST/FBT obligations including preparation and lodgement of relevant forms
  • Advice on and implementation of tax effective trust structures for asset protection and tax minimisation
  • Management of any ATO audits or disputes

If you would like further information you can contact us on 02 9300 3000 or info@wybengagroup.com.au

Trusts

A trust provides a valuable way of protecting the assets you have accumulated for the benefit of yourself and others.  A trust can also be an effective structure for running your business.

We have extensive experience with trusts and are able to offer specialist advice on establishment and compliance, ensuring that all statutory requirements are met.

Wybenga & Partners are able to organise for the preparation and execution of documentation involved in Trust formation.

Our Trust administration service includes:

  • Minute keeping service
  • Annual accounts
  • Taxation
  • Maintenance of CGT register
  • Income distribution

If you would like further information you can contact us on 02 9300 3000 or info@wybengagroup.com.au

Secure File Transfer

Secure File Transfer is a facility that allows the safe and secure exchange of confidential files or documents between you and us.

Email is very convenient in our business world, there is no doubting that. However email messages and attachments can be intercepted by third parties, putting your privacy and identity at risk if used to send confidential files or documents. Secure File Transfer eliminates this risk.

Login to Secure File Transfer, or contact us if you require a username and password.

General Calculators

Please enjoy the links to these free tools supplied by MoneySmart – a great resource for general financial information. Please get in touch if you would like to discuss any questions that you may have as a result of using these calculators.

Accounting Videos

 

Chris Wybenga

B.Bus, CA

Chris is the Managing Director of the Firm who established the practice in August 1994 and has been responsible for its growth and development since that time.

Chris has over 35-years experience in the Chartered Accountancy profession, predominantly spent in small to medium sized firms, advising both small business and individuals in areas such as taxation and accounting as well as business restructuring and superannuation advice.

Chris is active in the development of young accountants both in mentoring cadets at the Firm and lecturing in taxation for the CA Program for the Institute of Chartered Accountants.

  • 1980 – Commenced employment and part time university studies
  • 1985 – Graduated Bachelor of Business from University of Technology, Sydney
  • 1986 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia
  • 1988 – Registered as a Registered Company Auditor
  • 1994 – Established Wybenga & Partners (formerly known as Farrar & Wybenga)

Dianne Bechara

B.Bus, CA

Dianne is responsible for the day-to-day operations and administration of the practice.

Dianne has over 25-years Chartered Accountancy experience and has significant expertise in providing advice and solutions to high-net-worth individuals and their associated entities. Dianne also has considerable knowledge in the areas of taxation, business services, superannuation, and compliance.

Dianne is active in promoting gender equality in the industry through various programs and mentoring opportunities. Dianne is also committed to the development of young accountants and donates considerable time to sharing her expertise.

  • 1992 – Graduated Bachelor of Business from University of Technology, Sydney
  • 1993 – Commenced employment in acounting profession
  • 1996 – Commenced career with Wybenga & Partners
  • 1997 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia
  • 2002 – Appointed as Director of Wybenga & Partners

Roger Potter

B.Bus, CA

Roger is responsible for the HR aspect of the Firm, cultivating the culture, and maintaining the highly social environment we pride ourselves on.

Roger has over 30-years in the Chartered Accountancy profession and significant expertise in providing advice and solutions to small businesses and high-net-worth individuals. He also has extensive experience in the areas of Self-Managed Superannuation Funds and retirement strategies.

Roger is active in the development of young accountants both in mentoring cadets at the firm and lecturing in taxation for the CA Program for the Institute of Chartered Accountants.

  • 1985 – Commenced employment and part time university studies
  • 1990 – Graduated Bachelor of Business from University of Technology, Sydney
  • 1992 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia
  • 1998 – Commenced career with Wybenga & Partners
  • 2002 – Appointed as Director of Wybenga & Partners

Tess Uncle

B.Sc, M.Com, CA

Tess has over 15-years experience in Chartered Firms and in this time has had a broad range of experience in superannuation, taxation, and business services. In particular, Tess has had significant experience in MYOB and assisting clients in day-to-day bookkeeping activities and periodic reporting.

Tess is responsible for the Firm’s training and development needs.

Tess is active in promoting gender equality in the industry through various programs and mentoring opportunities. Tess is also committed to the development of young accountants and donates considerable time to sharing her expertise.

  • 2001 – Commenced employment with Wybenga & Partners and part-time accountancy studies
  • 2004 – Graduated Masters of Commerce from the University of New South Wales
  • 2005 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia
  • 2007 – Promoted to Manager at Wybenga & Partners
  • 2012 – Appointed as Associate Director
  • 2016 – Appointed as Director of Wybenga & Partners

Adam Roberts

B.Bus, B.Sc, CA

Adam has over 13-years experience in Chartered Firms and in this time has had a broad range of experience in superannuation, taxation, and business services. In particular, Adam has had significant experience in MYOB and assisting clients with periodic management reporting.

Adam is responsible for the implementation of technology in the Firm and sourcing new areas of innovation and efficiency.

Adam is active in the development of young accountants and donates considerable time to sharing his expertise.

  • 2005 – Commenced employment with Wybenga & Partners and part-time Accountancy Studies
  • 2005 – Graduated Bachelor of Science from the University of Western Sydney
  • 2007 – Graduated Bachelor of Business from the University of Western Sydney
  • 2010 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia
  • 2010 – Promoted to Manager at Wybenga & Partners
  • 2012 – Appointed as Associate Director
  • 2016 – Appointed as Director of Wybenga & Partners

Accounting Cadetships

Each year we offer several school leavers or undergraduates the opportunity of beginning their career with us via an Accounting Cadetship. If you are interested in pursuing a career in accounting please read the information below.

What is an Accounting Cadetship?
An Accounting Cadetship enables you to commence your career whilst attaining the necessary university qualifications by studying part-time.

How does it work?
Generally, our cadets complete a Bachelor of Commerce (BCom) or Bachelor of Business (BBus) degree at the University of New South Wales, the University of Technology Sydney, Macquarie University, or the University of Western Sydney.

The firm provides 3 hours paid study leave per week to attend University. This can either be taken at the one time or broken between days depending on the individual’s requirements. In addition, the Firm provides paid study leave for both mid-semester and end-of-year exams.

We take the work life balance very seriously at Wybenga & Partners and our cadets are encouraged to have a fulfilling life outside the office. A typical day will have you arriving at the office at around 8.30am with most days concluding at 5.30pm.

What are the benefits of an Accounting Cadetship with Wybenga & Partners?
Our cadets benefit from the following:

  • Career path – on completion of their degree our cadets have significant practical experience which will assist them in advancing their careers
  • Work helps your studies – by working full-time our cadets are able to apply their practical knowledge in the university subjects
  • Camaraderie with other cadets – the Firm has a number of cadets at various stages of their career
  • Mentoring – cadets are paired with a senior staff member who oversees their progress and training both at work and with their studies
  • Communication and feedback – the Firm has an open door policy which enables all cadets to interact with all members of staff including Directors
  • Culture – the Firm promotes a friendly social culture with a number of functions throughout the year
  • Modern environment – including ‘socialising’ areas such as pool table and break out area
  • Training – ongoing support and technical training. We also provide internal and external training on a monthly basis
  • Remuneration – working full-time provides a market salary and independence with salaries being reviewed every 6-months

What happens when I complete my degree?
The completion of your degree is the first step of what we hope to be a long and successful career with us. The next step is the commencement of your CA Program with the Institute of Chartered Accountants Australia and New Zealand whilst at the same time continuing your employment with us.

A number of cadets have progressed to Seniors, Managers, and Directors within the firm.

Who should apply?
Current Year 12 students or first/second year University Students who:

  • want to commence their career in accountancy;
  • are due to commence or are currently completing a part-time business or commerce degree at university with an accounting major;
  • want to gain valuable hands-on experience while completing their qualifications;
  • are looking for a friendly working environment;
  • are team players who display initiative;
  • have a commitment to self-development;
  • possess excellent personal presentation and communication skills; and
  • are motivated and mature minded.

How do I apply for an Accounting Cadetship?
To apply for a Cadetship position at Wybenga & Partners send us your details. Please also include in your covering letter why you wish to do a cadetship, include relevant qualities you possess, main interests / achievements, and any previous employment.

Interested candidates should initially forward a resume/covering letter of no more than 3-pages. Please provide full details of contact information (telephone or e-mail).

What if I have more questions?
For further information about our Cadetship program, please send your enquiry to info@wybengagroup.com.au

Skilled Accountants

Wybenga & Partners offers a stimulating work environment giving you the opportunity to develop your future success.

Wybenga & Partners recognises and promotes that there is more to life than work. We know that your needs change and we provide support to balance your work, academic and lifestyle pursuits.

We welcome enquires from trained accountants regarding a career with Wybenga & Partners. Please email us your details to info@wybengagroup.com.au