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Categories for Accounting News

Industry pressure forces ATO’s hand on STP deadline

The Tax Office has agreed to push back the start date for the second phase of Single Touch Payroll after intense pressure from all corners of the profession.

$36bn withdrawn from super during COVID-19

The latest report from the Australian Prudential Regulation Authority (APRA) has revealed that workers withdrew more than $36 billion from retirement funds through the early release of super.

ATO opens claims for first JobMaker quarter

The first claim period for the JobMaker Hiring Credit scheme is now underway, with the ATO reminding employers that they could receive up to $10,400 for each eligible employee hired.

80¢ per hour work-from-home deduction method extended

Taxpayers continuing to work from home in the new year will be allowed to continue using the simplified working-from-home deduction method following a third extension by the ATO.

Returning expats reminded on tax snares with pensions, investments

With thousands of Australian expats still hoping to return home following COVID-19, a mid-tier firm has highlighted some important tax implications and considerations, including the foreign pension transfers.

Brazen ATO scam costs Sydney woman $22k

Brazen scams continue. Police have issued a warning after a Sydney woman fell prey to an elaborate ATO scam that cost her $22,000.

Videos and other resources for our clients

Making our website into a valuable resource for our clients is very important to us. There are more tools and resources available when compared to almost anywhere else and this month we highlight our educational videos.

We hope you enjoy these 'extras' and if you have any question then click on the Contact Us button and ask.

Key dates for the second JobKeeper extension period

The JobKeeper program moves into its final phase from Monday, with payment rates set to be reduced.

Approaching the dawn

COVID-19 has completely, and mercilessly, dictated the direction of economies and financial markets through most of this year. So, as we rapidly approach the end of an extremely unpredictable and volatile year, what's in store for 2021?

Toyota returns $18m in JobKeeper payments

The Japanese car manufacturer has confirmed it has approached the ATO to return more than $18 million in JobKeeper payments after a spike in sales towards the end of last year.

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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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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 .

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.

Managing my money

Borrowing and credit

Mortgage calculator
Mortgage switching calculator
Mortgage health check
Personal loan calculator
(also suitable for car loans)
Credit card calculator

Superannuation

Retirement planner
(how to boost your super)
Superannuation calculator
(how fees affect your payout)
Super contributions optimiser
Super vs mortgage calculator
Super co-contribution calculator
Employer contributions calculator

Retirement

Investing

Accounting Videos

Tax Diary

Tax Deductions by Job

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

Chris remains active in the development of young accountants through mentoring cadets at the Firm.

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 & New Zealand
1994 – Established Wybenga & Partners

Dianne Bechara

B.Bus, CA

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

Dianne has over 30-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 & New Zealand
2002 – Appointed as Director of Wybenga & Partners

Roger Potter

B.Bus, CA

Roger has over 40-years in the Chartered Accountancy profession and significant expertise in providing advice and solutions to small and medium sized businesses and high-net-worth individuals. He also has extensive experience in the areas of Self-Managed Superannuation Funds and retirement strategies.

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 & New Zealand
1998 – Commenced career with Wybenga & Partners
2002 – Appointed as Director of Wybenga & Partners

Tess Uncle

B.Sc, M.Com, CA

Tess has been working in Chartered Accounting Firms since 2021 and in this time has had a broad range of experience in superannuation, taxation, business services and financial strategy.

Since 2016, Tess has turned her attention to Financial Planning, earning a Diploma of Financial Planning in 2015 and leading the financial division of Wybenga Group as a Director of Wybenga Financial.

Tess’s mission is to bring the ethics and integrity of her Chartered Accounting background to the area of wealth management.

As a woman in a male dominated field, Tess is active in promoting gender equality in the industry through various programs and mentoring opportunities.

Using her depth of knowledge and experience in tax and accounting Tess is able to demonstrate a level of competence that is unique in the Financial Planning sector.

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 & New Zealand
2007 – Promoted to Manager at Wybenga & Partners
2012 – Appointed as Associate Director
2015 – Awarded a Diploma in Financial Planning
2016 – Appointed as Director of Wybenga & Partners Pty Ltd, Wybenga Group Pty Limited and Wybenga Financial Pty Ltd

Schedule a Meeting with Tess

Adam Roberts

B.Bus, B.Sc, CA

Adam has over 18-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 & New Zealand
2010 – Promoted to Manager at Wybenga & Partners
2012 – Appointed as Associate Director
2016 – Appointed as Director of Wybenga & Partners

Schedule a Meeting with Adam

Hussein Oubani

B.Bus, CA

Hussein brings over 20 years of experience working in Chartered Accounting Firms, during which he has gained extensive expertise in taxation and business services. He provides advice on various tax issues, including capital gains tax, fringe benefits tax, goods and services tax, and Australia’s tax treaties.

Hussein is dedicated to fostering the growth of young accountants and generously devotes a significant amount of time to sharing his knowledge and expertise.

2008 – Commenced employment with Wybenga & Partners and part-time
Accountancy Studies
2010 – Graduated Bachelor of Business from the University of Western Sydney
2012 – Admitted as an Associate Member of the Institute of Chartered Accountants
Australia & New Zealand
2024 – Appointed as Director of Wybenga & Partners

Accounting Cadetships

Build your career with expert guidance from our accounting cadetships program, based in Sydney NSW.

Wybenga & Partners offer accounting cadetships at our location in the CBD of Sydney NSW. You’ll receive expert guidance as you work in the industry.

Industry experts guiding you
Friendly and supportive culture
Modern work environment

Training and ongoing support
Convenient Sydney CBD location
Registered tax agents

Call (02) 9300 3000

or send your enquiry now

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. Our accounting cadetships could be perfect for you!

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 Accounting Cadetships with Wybenga and 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.
Professional registered tax agents – Wybenga & Partners are registered tax agents with the Tax Practitioners Board. We use our years of experience and professionalism to provide the best advice and education to you, helping you build your career effectively.

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 .