The Federal Government has introduced proposed legislation that could significantly change how discretionary trusts are taxed from 1 July 2028. Under the proposal, affected discretionary trusts would be subject to a minimum 30% tax on their income, potentially impacting family trusts, small businesses and existing distribution strategies. Importantly, these changes are not yet law. Walshs
Annabelle Clare, General Manager, Walshs In September, I had the incredible opportunity to spend two weeks at the Massachusetts Institute of Technology (MIT) Sloan School of Management in Boston, as part of my Executive MBA through QUT. With less than two months remaining until graduation, the MIT immersion was undoubtedly one of the highlights of
For doctors and medical professionals, your ability to work is one of your most valuable financial assets. Years of training, specialist expertise and future earning potential mean that protecting your income and financial position can be an important part of your broader financial strategy. At Walshs, we work with medical professionals throughout their careers to
Australia’s doctors, dentists and allied health professionals spend their careers caring for others. But the latest PPS Mutual State of Health & Wellbeing in the Medical Profession Report shows that many medical professionals are facing increasing pressures of their own. The report, conducted by Lucidity Group on behalf of the insurer, surveyed 442 medical professionals across Australia
The Federal Government has released draft legislation relating to the proposed 30% minimum tax on discretionary trusts, first announced as part of the 2026–27 Federal Budget. Importantly, these changes are not yet law and remain subject to consultation and legislation. For small business owners operating through discretionary trusts, the proposed changes are significant and may
You wouldn’t let a patient diagnose themselves using Google, write their own script and walk out the door. Yet every day, people are doing something similar with their finances entering their salary, goals and personal details into ChatGPT or another AI tool and asking it to build them a financial plan. AI is everywhere. It
Division 296 is now law. The two Bills implementing it – the Treasury Laws Amendment (Building a Stronger and Fairer Super System) Bill 2026 and its companion Imposition Bill – passed Parliament on 10 March 2026 and received Royal Assent shortly after. The tax commences from 1 July 2026, with the first assessments expected to
Written by Michael Walsh, Associate Director and Founder As we move into the 2026-27 financial year, there are several important tax, superannuation and investment updates for clients to be aware of. Some measures are already scheduled, while others remain proposed and subject to legislation. Residential Property & Negative Gearing Following the Federal Budget, proposed changes
Medical professionals play a crucial role in ensuring the health and wellbeing of the community. As these dedicated individuals transition between different healthcare employers, they may encounter the eligibility to salary package and therefore experience a unique set of challenges relating to this. Salary Packaging is a remuneration arrangement that allows employees to receive a
Written by Michael Walsh | Associate Director With 30 June fast approaching, now is the time to review your tax position and ensure you’re taking advantage of available opportunities before the end of the financial year. Use this checklist to stay on track and prepare for upcoming superannuation changes. ✅ Before 20 June 2026 Superannuation