News and views from PSZ

Read the latest from PSZ. Stories about our own PSZ team. Profiles of our inspiring clients and how we’ve helped them succeed. Updates from the ATO as well as financial reminders, checklists and tips. Please visit again soon.

Stuart Irving, Irving & Keenan Real Estate: Client Q&A

Stuart Irving is a founder of the Mount Lawley family-owned real estate agent Irving & Keenan. He is also a long-time client of PSZ.

How did you begin your real estate career?

By default really. I came to Australia in 1967 as a “10 pound Pom”. I was an ex-coal miner with $26 to my name. Obviously I needed a job. My first job in Perth was selling office supplies at Edwards Business Machines then later I moved on to selling houses. I was naive but prepared to have a go.

How and when did you start your own agency?

I started working from home with my wife and three small children underfoot in 1978 as Stuart Irving Real Estate. I crossed paths with Peter Keenan who was another local rep and in 1980 we teamed up as Irving & Keenan.

It’s a family business. Who works there?

My son Brad is now my boss. There’s also my wife Peta, my daughter Cath and seven other staff members.

You’ve run a successful real estate business for nearly 40 years. What’s your secret?

Talking to people is still really important. No amount of texting and emailing can replace that. Negotiating a deal is not always easy and to arrive at an outcome I always like to sit down and eyeball people and discuss it.

What’s been your career highlight?

Surviving in a tough industry.

How long have you been a client of PSZ?

Around 30 years. I meet a lot of people through my business, including accountants, but I’m confident I have one of the best in Carlo and the PSZ team.

What services has PSZ provided for you apart from the obvious tax returns?

I feel I can call on PSZ for advice whenever I need to, like when my former business partner retired and his shares were transferred to my son Brad. Carlo also recently set us up with Xero accounting and an SMSF.

What do you like to do when you’re not working?

My wife and I love to escape to our farm in Denmark. We bought it soon after I started the business. We farm cows and alpacas and I have to say it’s an ideal place to get away from the stresses of real estate.

Any thoughts of retirement?

What would I do with myself?

Three words that describe you…

A people person.

Time for a free spring financial health check?

Spring has sprung! It’s the season of renewal – and the perfect time to consider a free financial health check.

Are you earning good money, paying your mortgage and contributing to super, yet somehow it still feels like you’re not getting ahead?

Or perhaps you’re struggling to keep up at all.

There’s no better time than spring to look at your finances with fresh eyes. A free personal financial health check is a good place to start.

A PSZ personal financial health check gives you an hour of our time for a financial once-over to clarify where you are now, where you want to be and how you can get there.

We can advise you on how to build and protect your wealth. And we can also help you address any financial pain points you may have.

Big picture chat

“I’m getting lots of requests from clients to have a look at their big financial picture with them,” PSZ Accounting director and business adviser Carlo Scali explains.

“Sitting down for a relaxed chat in my office with all the figures in front of us and a fresh set of eyes can reveal what’s really going on – and how to improve things.

“Before you can set up a plan to move forward, you have to know exactly where you’re starting from.

“We’re doing a lot of this kind of personal advice lately.”

Carlo says he really enjoys getting clients on the right financial track through big picture thinking and planning.

“If I can help people manage their finances so they can live a more fulfilling life with fewer worries about money, it makes me feel good about going to the office each day,” he says.

Book your free personal health check now

One hour of PSZ’s financial insight is yours free of charge.

To make an appointment for your personal financial health check, please contact us now. And put a spring in your step!

New PAYG withholding tax rules for business

The ATO has tightened up its PAYG withholding tax and reporting rules. Don’t lose a tax deduction for non-compliant payments to workers.

If you’re running a business, did you know a new law came into force on 1 July that may affect your ability to claim tax deductions for workers?

The new law requires you to withhold and report tax for workers as you go – or miss out on tax deductions.

The PAYG rules require that you:

  • withhold the tax amount from the payment before you pay your worker; and
  • report that amount to the ATO – in a Business Activity Statement.

This includes payments:

  • of salary, wages, commissions, bonuses or allowances to employees
  • of directors’ fees
  • under a labour hire agreement; and
  • for a supply of services (except supplies of goods and real property) where the contractor has not provided their ABN.

You can no longer wait until the end of the financial year.

PSZ advises that the new law means you should review all payments to employees, contractors, labour hire workers and directors to ensure withholding obligations are being met.

It’s also a good time to review the status of any contractors. Are they actually contractors or employees?

Please contact us at PSZ Accounting if you have any questions or concerns about this new initiative.

Budget 2019 in brief

Budget coverage reached saturation point in the media recently. So what’s in it for you? PSZ’s summary gives you the highlights. Bear in mind that it all may be subject to change after election day.

Business instant asset write-off – act now to reduce your tax

For our SME business clients, this is the most important Budget initiative because you need to act quickly, well before 30 June, to take advantage of it.

The Government will increase the instant asset write-off threshold from $25,000 to $30,000 and expand the instant asset write-off to medium sized businesses with aggregated turnover of less than $50 million from 7.30pm on 2 April 2019 (Budget night).

So if you buy and install new plant or equipment worth up to $30,000, the full amount will be an instant tax deduction.That will reduce the tax your business pays this financial year. That will reduce the tax your business pays this financial year.

If you have any questions about how the instant asset write-off works or what sort of plant and equipment are eligible, please contact us now.


• From 1 July 2020, if you’re aged 65 or 66 then:
– You’ll be able to make voluntary super contributions without meeting the work test; and
– You can make three years’ worth of non-concessional contributions (currently capped at $100,000 a year) in just one year.

• From 1 July 2020, there will be an increase to the age limit for spouse contributions from 69 to 74.


• There will be increases to the Low and Middle Income Tax Offset for 2019, and the next three financial years.

• From 1 July 2024, there will be a reduction in the 32.5% marginal tax rate to 30%.

 Aged care

• A record $21.6bn has been allocated towards providing higher quality aged care.


• For 3.9 million Australians, there will be a one-off, income tax exempt payment of $75 (for singles) or $125 (for couples) to help with the next power bill.

If you have any questions about this, please contact us now.

Paul Caporn, Artist: Client Q&A

From mad merry-go-rounds to street art, from Sculpture by the Sea to nature playgrounds, Paul Caporn’s art defies pigeonholes.

When and how did you decide to become an artist?

At high school, it was either that or architecture, but in the end I studied painting and animation at Curtin.

What forms does your art take?

Many and various. Currently it’s large scale sculpture and installation. My “Roundabout” artwork involves flying merry-go-round horses made from paper and paint, and was four years in development. I’ve repurposed domestic and industrial items into sculptural and light works. I’ve created animations. I’ve done lots of public art. And I’ve designed and built a nature playground for a primary school.

Where would people have seen your work?

I’ve had a number of shows at Turner Galleries. I’ve exhibited at Sculpture by the Sea in Perth and Sydney. I’m in the collection at the Art Gallery of Western Australia. I’ve created ephemeral, street and public artworks for councils such as Perth, Fremantle and Vincent, and been involved in many festivals and group shows.

What inspires your work?

I often engage with themes that circulate notions of industry and science. I like to have a bit of fun, so my artworks often involve nostalgic play, dealing with technologies in a low-tech manner.

What’s been the highlight of your career so far?

Doing a six month residency in Basel through Artsource and the Christoph Merian Foundation in 2014.

What role has PSZ played in helping you become a successful artist?

It’s great having consistent staff who know me and my art as well as my business.

Any key pieces of advice PSZ has given you?

Moving to Xero was great. And we did some planning in the lead-up to tax time at PSZ’s suggestion that saved us a decent amount of money.

Earning a living as an artist can be a struggle. Any tips?

Keep experimenting. Take advantage of opportunities to travel or do residencies. Keep up conversations with your contemporaries. On a practical note, I was lucky to do an arts business course through the New Enterprise Incentive Scheme when I was starting out, and this gave me an understanding of the business side of my work.

Three words that describe you…

Diverse. Distinct. Honest.

A quirky fact about you…

I’m a twin.

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