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Welcome

Raymond Kemsley & Co is an Accounting firm located in Dee Why, on Sydney’s northern beaches. Our firm has built an enviable reputation for providing personalised accounting, taxation, financial planning and estate planning services.

Raymond Kemsley & Co is committed to forming a close relationship with clients seeking to implement investment strategies, in order to provide the assistance they require. We take pride in providing a whole range of accounting and wealth creating services to enable our clients to achieve their goals.

We understand that the entrepreneur is instinctively driven and to succeed must be surrounded by the right professionals who share the same vision. Our people, systems and resources are designed to achieve success.

Our Services

accountingAccounting Services

Whether your concerns are taxation, accounting, business planning, cashflow and budgeting, or business valuation, rest assured that our staff are available to advise you.

wealthWealth Management

Our experienced team can help ensure that your personal wealth is managed as tax-efficiently as possible.

taxTaxation Services

Whether you need advice on company tax, personal tax effectiveness or indirect taxation including payroll tax and GST, our team will identify the best solutions for you.

specialistSpecialist Services

In addition to our normal services, we have a developed specialist knowledge and expertise in financial planning and self-managed superannuation funds.

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Recent Updates

Firm News

Expert advice on early superannuation access as a result of COVID-19

Under the coronavirus stimulus package released and revised by the Australian Federal Government on 22 March 2020, individuals in financial trouble due to the negative economic impacts of COVID-19 will be able to access their superannuation funds early. However, while the option is available, it is recommended that individuals only consider withdrawing from their super in the case of absolute emergencies and treat it as a last resort.

With the new rules on superannuation, workers whose incomes are reduced by at least 20% due to the COVID-19 outbreak are allowed to take $10,000 out of their super for the 2019-20 financial year and another $10,000 for 2020-21. Individuals will also not need to pay tax on any withdrawn amounts and existing welfare payments will not be affected either.

While the introduced early access to superannuation funds may be inviting for newly unemployed workers, it is important to consider whether the temporary relief is necessary and worth foregoing super funds available for long term investment. For example, even when accounting for Australia's slowing economy in the coming years, $10,000 is predicted to be worth over $65,000 in another 30 years.

Especially for younger workers who are less likely to have access to other savings, the choice to give up future savings for current comfort is a difficult one. Experts instead are recommending Australians to apply for the other payments and benefits made available to vulnerable Australians through the coronavirus stimulus package, such as added $550 fortnightly supplements to Australians on JobSeeker payments and other welfare recipients and pensioners.

Experts also predict that the Australian Government will introduce more stimuli for increased cash flow in the Australian economy and more payments for unemployed, struggling and vulnerable Australians in the case of COVID-19 becoming more of a serious economic issue. Hence, withdrawing funds from your superannuation account should be considered a last resort and not for the sake of unnecessary temporary relief.

In addition to being allowed early access into individual super funds, superannuation minimum drawdown rates will also be temporarily reduced by 50% for account-based pensions and others similar until 2021.

The Government has also reduced the upper and lower social security deeming rates by a further 0.25 percentage points, with upper at 2.25% and lower at 0.25% which will come into effect on 1 May 2020.

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