What is a Clearance certificate? A clearance certificate is issued by the Australia Tax Office (ATO) to confirm that a seller is an Australian resident for tax purposes. When selling Australian real estate, it’s essential you provide this certificate to the buyer before settlement. Without this certificate, the purchaser is required by law to withhold
As an investment property owner, keeping up with your tax obligations can feel overwhelming — especially with recent changes to the ATO’s property management data-matching protocol. The ATO is now receiving more detailed information about your rental property, including rental income and expenses. With data coming from software providers, banks, rental bond authorities, and even
One of the most frequently asked questions our financial advisers hear is: “Should I repay my HELP debt (Higher Education Loan Program) early?” This question has gained more relevance recently, particularly due to the significant 7.10% increase in HELP debt indexation during the 2022/2023 financial year. Fortunately, the Federal Government has proposed changes that aim
Superannuation is one of the largest investments you will ever make, so it’s crucial to understand your options and choose wisely. This guide will provide you further information regarding selecting your investments. Understanding Superannuation Investment Options Most superannuation funds offer a variety of investment options, typically ranging from conservative to growth-oriented. Each option comes with
Discovering that your Tax File Number (TFN) has been compromised can be a stressful and confusing experience. At Walshs, we are here to help you navigate the situation and protect your financial and personal information. How do I know if my TFN has been compromised and what should I do? You may begin receiving unsolicited
As a leading medical financial planning firm, of course we advocate for appropriate billing structures, but of course we know and respect the unwritten rule of not charging colleagues. However, this unwritten rule is quite traditional and we are seeing it being challenged in a modern practice. It’s not for everyone, especially in the face
Welcoming a newborn into your family is an exciting time, filled with joy, anticipation, and, of course, some necessary paperwork. One of the most important steps new parents can take is adding their newborn to their private health insurance policy. Not only does this ensure that your baby is covered for any unexpected medical expenses,
As the holiday season approaches, many homeowners may consider renting out their homes or a part of them to earn extra income, particularly in areas with high tourist traffic. Platforms like Airbnb or Stayz make it easy to list your property or part of your property and connect with travellers. However, before you enter the
How do you keep your finances on track when a medical career demands so much of your focus and time? The journey of a medical professional is unique, marked by long hours, intensive (and expensive!) study and unexpected relocations and other fun twists. Financial management is a critical part of sustaining this journey, yet it’s
When running a business, creating a positive and engaging environment for your employees is key to success. Whether you’re throwing a Christmas party, organising a recreation day, or hosting a seminar, these events can boost morale and strengthen your team. However, it’s essential to understand how Fringe Benefits Tax (FBT) applies to these activities. Understanding
