Key Tax Solutions

12/10/2026

Why use Key Tax Solutions?

For us, it comes down to knowing our clients and their businesses.

We take the time to understand your situation, what you’re working towards and where you might need support. That allows us to give advice that actually fits your business rather than taking a one size fits all approach.

We also believe your accountant should be there throughout the year, not just at tax time. We’ll flag things we think you should know about, raise potential risks and point out opportunities when we see them.

With CPA and CA qualified accountants experienced across Xero and other software, clients get expert and practical support. Our bookkeeping and admin team can also take care of the day to day paperwork, giving you valuable time back to focus on your customers, your team and growing your business.

It’s practical accounting advice, backed by a team that genuinely gets to know your business.

Learn more about us.
https://www.keytaxsolutions.com.au/

05/10/2026

29/09/2026

Starting a new chapter in business is always exciting, and we’re glad to be part of Jonathan and his wife’s journey.

Thank you, Jonathan, for the kind words and for trusting the Key Tax Solutions team to help you get set up and ready for what’s ahead.

We’re looking forward to supporting you both along the way.

If you’re starting a new business or returning to business ownership and want to make sure you’re set up correctly from the beginning, get in touch with our team.

22/09/2026

A little trip down memory lane! Key Tax Solutions started back in 2004 — humble beginnings, working from home with clients coming to our home office. Two young children certainly kept things busy and challenging! Fast forward to today, and we've grown to a team of 6 dedicated professionals, all committed to helping businesses like yours meet their tax obligations with confidence. Some of our early staff were more a hindrance than help….

Watching our clients grow and succeed alongside us has been the most rewarding part of this journey. Here's to the relationships we've built and the many more years of helping local businesses thrive!

15/09/2026

You can’t always claim all the GST you have paid?

Unfortunately this is true. Yes you have paid the GST on the goods, Yes are registered for GST and are entitled to claim a GST credit, but unfortunately you can not claim all the GST you have paid.

The most common example of this is when you are buying an expensive motor vehicle. Specifically above the depreciation cost limit. For the 2027 financial year the depreciation cost limit is $69,883. Which means the most GST you are eligible to claim is $6,353.

So when you buy that dream BMW or Mercedes for $150,000. Even if you pay almost $15,000 in GST, you can only claim $6,353 in GST credits on your next BAS.

Please note when you sell your motor vehicle, that is owned by your business and you are GST registered, the proceeds of sale are deemed to include GST. You will need to remit 1/11th of the sale price as GST on your next business activity statement.

08/09/2026

Ana is our reliable and dedicated office coordinator and bookkeeper, who always keeps the office running smoothly. Having been with us from the very start, Ana knows everything about Key Tax Solutions, and takes meticulous care of our administration and bookkeeping tasks, while also supporting her clients to improve their own internal financial administration systems.

With a background in marketing and mortgage finance, Ana’s people skills and commitment to customer service drive her passion to see her clients succeed. But it’s her supportive, professional and empathetic nature which set the standard of service that our clients know us for.

When she’s not at work, Ana spends her time with her two adult children and her gorgeous 12-year-old black Cavoodle. She also enjoys challenging herself to try new things, having completed the gruelling Tough Mudder course back in 2013.

With Ana’s dedication to providing an excellent client experience, you know you’re in great hands with Key Tax Solutions.

04/09/2026

How do you calculate your car’s Fringe Benefits Tax?

The current FBT (Fringe Benefits Tax) year is finishing soon, on 31 March 2027.

I thought I would discuss the most common fringe benefits, motor vehicles. There are two methods to calculating your Fringe Benefits Tax on motor vehicles - Statutory Formula and Operating Costs.

Statutory Formula is based on the value of the vehicle when it was purchased, including GST. The statutory rate is 20%. For example, if your business owns a BMW acquired for $90,000, your fringe benefit is $18,000. The FBT debt is calculated at $18,000.

Please be aware that you can only claim depreciation deductions for $69,883 on motor vehicles in the 2027FY.

The best way to reduce your FBT on your motor vehicles is by using the Operating Costs method for calculations. You will need to complete a log book to work out the business percentage use. You will calculate all running and ownership costs related to the motor vehicles. The private use percentage is the value of your fringe benefit and the value used to calculate your FBT debt.

Sometimes the Fringe Benefits Tax can be more than the deductions on luxury cars.

25/08/2026

Maybe the property you require is above your individual credit limits and using both incomes and other equity is needed.

Having two unrelated parties who trust each other does give you a lot more flexibility. Some of the structure options are:

Your own names as partners, you could even add spouses to the title.
Set up a trust, Fixed Unit Trust is best. Both partners will own the units in the trust, ie. this is their equity contribution. The trust can borrow the funds.

Set up an SMSF together and use the SMSF to buy the property.
Using a Fixed Unit Trust, both partners set up their own SMSF and buy units in the trust. SMSF provide the equity, the trust borrows the funds.

I would not recommend buying the premises in your trading entity. This way your asset is protected from any potential liability or solvency issues in your trading entity.

There are a few more issues, feel free to reach out if you would like to learn more.

18/08/2026

Vicky is one of our hard-working and motivated Accountants, with a passion for teamwork, problem-solving and finding the right solutions for her clients every time.

With a Bachelor of Business and Cert II in Office Administration, Vicky joined Key Tax Solutions in 2021. She is a Member of CPA Australia and has more than 15 years of accounting experience.

Vicky never backs down from a challenge and draws on her vast experience to prepare small business accounts and tax returns accurately, with a personalised approach and a willingness to help.

When she’s not at work, Vicky is very active and loves to spend time outdoors. She is always setting new goals to help her grow and become a better person, and she channels her willingness to learn and adapt into her work each day, ensuring she continues to meet her clients’ evolving needs.

We are excited to announce that Vicky is now an authorised tax agent at Key Tax Solutions. Need your income tax return prepared? We can now offer more appointments in the office, or remotely at more times that suit you. Get in touch with us today 02 9774 4412.

11/08/2026

You may be aware that It is compulsory to register for GST when your sales are above $75,000. This includes the sale of a commercial property. One of the reasons for registering for GST is a one-off commercial transaction, which selling a commercial property is.

If you do not register for GST and you sell your commercial property, you can be held liable for 1/11th of the sale price as GST. This could potentially cost you tens of thousands of dollars.

Purchasers of commercial property should also register for GST. If the purchase is a creditable acquisition you will be able to claim the GST on purchase, i.e. receive a large GST refund. Another advantage is, that the banks are happy to fund the purchase GST-inclusive. Having this refund is great to fund any small repairs or improvements you would like to make to the property before moving in.

You might have heard of people not charging GST on these transactions. This can be the case if the Going Concern test is passed. However, both the seller and the buyer of the commercial property still need to be registered for GST.

There are a few more issues, feel free to reach out if you would like to learn more.

https://www.keytaxsolutions.com.au/contact_us