24 September, 2020

When it comes to making life changing decisions, most people take time to ensure they are well informed and advised. This same consideration should go into finding a great financial planner. It is essential to understand the services they offer and consider their track record and testimonials. Finding the right planner will save you time […]

24 September, 2020

The COVID-19 pandemic has significantly impacted the superannuation savings of most Australians. Firstly, the economic downturn resulted in investment markets heading south. Asset values have fallen, so superannuation balances have fallen, impacting both people saving for retirement and current retirees.  The second trigger is the ability for Australians to withdraw up to $10,000 of their […]

24 September, 2020

Financial planning is a lifelong endeavour, and it is important to be putting in place the strategies that suit your lifestyle, but with one eye on the future. As you move through different life stages, your resources and risk tolerance will change. Saving for your retirement looks very different at age 30 compared to age […]

10 August, 2020

As one of the most frequently asked questions. The answer is reliant on multiple components. In order to determine the answer, your financial adviser will need to ask you questions such as “what is your next asset position now? Do you have the ability to saved to add to your retirement capital? What investment return […]

29 July, 2020

At Kensington’s we understand that applying for government funding can be difficult to navigate. We have put together a list of our most frequently asked questions to explain the suitability and accessibility of current funding. Are there any Incentives or Grants Available to Assist Start-Up Businesses? No, there are no government grants offered specifically for […]

29 July, 2020

It can be difficult to ensure you are getting the most out of your tax returns. At Kensington’s, we recommend working with one of our experienced accountants to construct a tax plan which will encourage more strategic decisions and help maximise your returns this tax time. Tax Planning Tips Now is a great time to […]

29 July, 2020

The state government recently approved a new law to help commercial tenants and landlords better reach agreements about renting during the COVID-19 pandemic. The law was introduced in two parts: Commercial tenancies (COVID-19 response) Act 2020, (21st April 2020) WA code of conduct (29th May 2020) Commercial Tenancies (COVID-19 Response) Act 2020 This act was […]

21 July, 2020

Today the Federal Government provided an update to the future of the JobKeeper program. Important changes include the following:  The JobKeeper program will continue beyond the initial end date in September and will now carry through until the end of March 2021.  A 30% turnover reduction test must be reapplied for both the December 2020 […]

21 July, 2020

Lodging your tax return as soon as you can this year is proving attractive to recoup potential refunds. However it’s important to consult a professional to assist you with the many COVID-19 changes for the past financial year. Review the below checklist before lodging to ensure you have all your information at hand: 1) Working […]

17 July, 2020

Now the new financial year has started, many are still unaware of the new changes to Perth Superannuation. For the 2020/21 financial year there are two main changes: 1) the removal of the work test for anyone aged 66 and 67 years old who make personal non-concessional contributions 2) a spouse contribution extension to those […]

22 May, 2020

The case to be a new world leader has never been more evident in these recent times. In the past two months, it has become more obvious than ever before that we find that the leader of a business has a significant impact on how that business performs. The recent events with employees not feeling […]

23 April, 2020

Are you JobKeeper ready? We’ve got you covered! We are providing you with a checklist to ensure that you have ticked off all that is required to get your business JOBKEEPER READY. KEY DATES 20 April: JobKeeper enrolment opened 30 April: Business and employee enrolment closes for APRIL Monthly reporting: ATO will require monthly updates […]

16 April, 2020

The Government has announced a $130 billion JobKeeper payment to help keep more Australians in jobs and support businesses affected by the significant economic impact caused by the Coronavirus. Around 6 million workers will receive a fortnightly payment of $1,500 (before tax) through their employer. The payment ensures eligible employers remain connected to their workforce […]

16 April, 2020

All businesses need to have a plan in place during the COVID-19 pandemic.  This checklist provides general guidance around important aspects and actions you should be considering for your business. We encourage you to have regular contact with your accountant and if you need guidance we are happy to speak for a no obligation phone […]

3 April, 2020

Are there actions you could be taking with your SUPER right now to minimise your exposure in this market? Naturally many people are concerned about the value of their investments, particularly in the current global environment with COVID-19  which has changed so many things so quickly and dramatically including the value of investments that we […]

2 April, 2020

1. Understand your current financial position It’s essential to make informed decisions about your business based on your current financial position. Pending restrictions imposed by government, your ability to trade through this period, pay outstanding debts, keep employees or meet existing leasing or loan repayments will be determined by your financial position. Contact your accountant […]

1 April, 2020

In addition to our previous communications over the past 2 weeks regarding the Federal Government’s stimulus packages, we attach for you a detailed analysis of the Second Economic Stimulus Package which passed through Parliament on Monday night. It is now law so we can rely upon the information and commence the work towards applying these […]

1 April, 2020

In regards to our previous post explaining the JobKeeper Payment, we are now encouraging clients to register their interest for the JobKeeper payment if they qualify to register. If you believe you will qualify to receive the JobKeeper Payment package announced yesterday, please log onto www.ato.gov.au and register your interest. As outlined in the information sent last […]

1 April, 2020

This is a short note to advise we are very aware of the announcements made today towards the business wage subsidy referred to as the JobKeeper Payment. We have received an enormous volume of requests for information today regarding this announcement. Kensington Partners aims to provide you with the comfort that we absolutely understand the […]

1 April, 2020

The past few weeks have been full of challenges for us all. To date, our interactions with many of our clients indicate a mixture of outcomes. Some unfortunately have been forced into immediate shutdown whilst others have only been impacted slightly by these horrible events. The economic impact has happened very fast and the need […]

1 April, 2020

We are all being impacted by these current events and as we understand more and more of the impact the Corona Virus is having across the world as well as the direct impact it is having on our local economy, the realisation for many is our businesses and livelihoods are under threat. Unprecedented times call […]

1 April, 2020

Following the escalation in cases of COVID-19 (coronavirus), we wish to re-affirm that Kensington Partners will continue to operate at full capacity and without disruption. We continue to service clients across the business, whilst ensuring the health and well-being of our staff. In response to COVID-19, we have decided to implement our Business Continuity Plan to […]

1 April, 2020

This morning, the Morrison Government announced a $17.6 billion economic stimulus package to support Australian businesses as we are dealing with the significant challenges posed by the spread of the coronavirus. The package has four components: Household stimulus package Keeping Apprentices in jobs Supporting business investment Providing cash flow assistance to help businesses The new […]

1 April, 2020

The Western Australian Government has announced measures to support small business during the coronavirus (COVID-19) pandemic. The small business relief includes: $17,500 grants for small businesses with a payroll between $1 million and $4 million. The $1 million payroll tax threshold (announced in October 2019) will be brought forward by six months to 1 July […]

1 April, 2020

Eligible employers will be paid $1,500 per fortnight per eligible employee. Eligible employees will receive, at a minimum, $1,500 per fortnight, before tax, and employers are able to top-up the payment. Where employers participate in the scheme, their employees will receive this payment as follows. If an employee ordinarily receives $1,500 or more in income […]

24 October, 2019

Your retirement strategy is a key element of your overall financial plans. Ultimately, the answer to the perennial “when can I retire?” question requires a thorough assessment of your particular financial position, your ongoing financial responsibilities and your personal goals for retirement. There is no simple “one-size-fits-all” answer to a complicated set of questions with […]

24 October, 2019

With the outlook for Brexit still remaining unclear after the UK Prime Minister Boris Johnson suffered several new setbacks last week. On Monday, Parliament’s rejected for the second time in a week his plan for a snap election. Bearing this in mind, now may be the time to look at maximising and topping up and […]

24 October, 2019

A comprehensive, detailed estate plan is an essential component of the effective management of your personal affairs. A good estate plan documents your wishes for the distribution of your assets after your death and an action plan and structure to enable the effective execution of those requirements. An effective estate planning process can provide peace […]

7 October, 2019

Worked in the UK? With the outlook for Brexit still remaining unclear after the UK Prime Minister Boris Johnson suffered several new setbacks last week.  On Monday, Parliament’s rejected for the second time in a week his plan for a snap election.  Bearing this in mind, now may be the time to look at maximining […]

2 October, 2019

Kensington Wealth believes all Australians should have a retirement plan. This becomes all the more crucial if you’ve passed the milestone of your 50th birthday. Naturally enough, you’re seeking a comfortable retirement that will allow you to live the lifestyle you desire and still maintain a robust financial position for protection against any unexpected situations, […]

2 October, 2019

All Australian residents with UK pensions should be evaluating the opportunity of transferring their entitlements to an Australian fund. UK Pension Transfers are available under certain conditions to both migrants from the UK and to Australians returning home after a period of work in the UK. The process is complex and the options vary with […]

28 May, 2019

There are changes that have occurred regarding individuals being able to purchase back previous National Insurance credits to maximise and increase their current entitlement to a UK State Pension. The new weekly UK National Insurance (voluntary) contribution rates for 2019/2020 are Class 2 – £3.00 and Class 3 – £15.00.  The British System now allows […]

29 November, 2018

The question of how much a person needs to have saved before confidently launching into their retirement years very much requires an individual answer. The more the better may seem to be an obvious response, but then again each one of us lucky enough to reach the brink of those golden years will feel a […]

29 November, 2018

As the FBT year runs from 1 April to 31 March, the months of October to December marks the “third quarter” of the FBT year, and so here is an overview of the FBT elements that can attract the ATO’s attention. This can be a timely period for a compliance check-up, so that employers who […]

29 November, 2018

A small business loan can be invaluable when you’re establishing your business or when an unforeseen setback occurs, but you don’t want a loan to be short-term gain and long-term pain. Here are six common mistakes businesses should avoid when it comes to commercial finance. Mistake #1: Not getting the right loan A thriving business […]

29 November, 2018

Nuala Chau, one of our Accountants, has been leading Kensington Partners support of Operation Christmas Child for a number of years now and 2018 has been our biggest and best effort yet. The team has filled 92 shoeboxes (an average of 2 per employee!) with a range of fun and practical items for kids aged […]