Kylie Baker

Kylie Baker is a Chartered Accountant, Registered Tax Agent and SMSF Auditor who started MYC Partners Accountants backed by a 25 year career in the accounting industry. Working across multiple firms of varying sizes and gaining specialisations, she has amassed an impressive amount of knowledge in all areas, most notably the Small Business and SMSF areas. Kylie’s experience has a strong understanding and true empathy with small business owners like herself – it can often be hard work and lonely at times. Kylie’s kindness and commitment to helping her clients cheers them up on a hard day, with a quick phone call to walk them through a process, hear an idea or just check in.

how to teach financial literacy to your children

Financial Literacy for Kids: Starting Early

Why is it that, despite the complexities of our financial landscape, the essential task of educating our children on financial matters often goes overlooked? Financial literacy for kids encompasses far more than teaching them to recognise money – it’s about instilling an early understanding of financial management, the significance of savings, and the careful use …

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Tax on Investment Properties: CGT and Negative Gearing

Owning an investment property can be a fantastic way to build wealth and secure your financial future. However, the complexities of tax on investment properties can quickly become confusing. As a Central Coast accountant deeply familiar with the complex issues of property taxation in Australia, I’ve witnessed firsthand how the intricacies of negative gearing and …

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What is a Director ID? Prevent Fraud, Ensure Integrity

Director IDs are necessary in Australian business to ensure that companies are operating legally, with the best interests of the company at heart. It is used to prevent the use of false or fraudulent director identities. As an experienced accountant dedicated to enhancing corporate transparency and governance, I’m here to clarify the Director ID for …

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Working from Home Deductions: Expert Tips on Claims & Methods

In recent years, the work landscape has dramatically shifted towards working from home, highlighting the importance of understanding working from home deductions. The rules and methods for claiming these have evolved, particularly since 2022, leading to confusion and missed opportunities. As a Central Coast accountant, I’ve observed the challenges faced by remote workers in making …

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Accounting for Startups: Building a Solid Financial Base

Jumping into the startup world is exciting, but there’s one thing you really need to nail down from the start: Accounting. Here’s the thing: Accounting for startups isn’t just about filling out forms and ticking boxes; it’s what keeps your business on solid ground. If you overlook it or don’t get it right from the …

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ATO Audit Insights for Effective Business Management

For small business owners, the prospect of an audit by the Australian Taxation Office (ATO) can seem intimidating. Yet, it’s important to remember that these audits are a standard part of ensuring legal compliance and accuracy in your financial affairs. There’s no need for the word ‘audit’ to set off alarm bells. Managing an ATO …

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Why Is My Tax Refund So Low? Decoding the Mystery Behind Shrinking Returns

The annual tax refund is a highly anticipated event for most working Australians. For many, that means an exciting influx of cash in the form of their annual tax refund. However, this year, many people are scratching their heads, wondering, “Why is my tax refund so low?” It’s a common question I’ve been hearing a …

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Business vs Hobby: Navigating the Fine Line with ATO’s Rules

As an accountant, one question I get all the time is, “When does a hobby become a business?” This is a critical distinction when it comes to your tax obligations. In this post, I’ll walk through the key factors that transform a hobby into a bonafide business in the eyes of the Australian Taxation Office …

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Accounting for Influencers: Mastering the Digital Earnings Game

The rise of social media has given birth to a new type of celebrity: The influencer. As these digital content creators have amassed huge followings, sponsored posts and affiliate promotions have become big business. However, the unpredictable income streams of influencers pose unique accounting and tax challenges. Unlike salaried jobs with regular paychecks, earnings can …

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