Written by Timothy Reece | Associate Director | Accounting The Australian Taxation Office (ATO) has recently released Draft Taxation Ruling TR 2025/D1, providing updated guidance on how individual property owners should treat rental income and deductions. Crucially, the ruling introduces stricter views on “holiday homes”- properties that are used for both private enjoyment and short-term rental. If your
Written by Luke Mackie | Provisional Financial Adviser | Accounting Australian property prices have risen sharply over recent years, particularly through and following the COVID period. In markets such as Brisbane, Perth and parts of regional Queensland, price growth has exceeded 70% over five years in some areas. This has led many investors, especially high‑income professionals to
The end-of-year party is a great way to thank your team for their efforts throughout the year. But while the festive season is about celebration, employers also need to keep an eye on the responsibilities that come with hosting staff events. From tax implications to legal obligations, there are a few key points to keep
It’s not unusual for work and leisure to overlap during the festive season. You might attend a client meeting while away on holiday or extend a business trip with some personal downtime. While this mix is common, it’s also an area the Australian Taxation Office (ATO) pays close attention to – especially when holiday travel
At Walshs, we’re always looking for lending options that help our clients achieve their goals sooner and with greater clarity. A recent offering from one of our lenders may create new opportunities for those planning to purchase a home or investment property. Here’s what you need to know. What’s on offer One of our
Every year at Walshs Practice, we see the same “small but surprisingly complex” questions pop up in meetings with our medico clients. These questions might seem minor, but the answers can make a real difference to your refund and tax position. Below are ten of the most common (but uncommon!) tax questions we are asked
Significant changes have been announced to the Government’s proposed Division 296 tax on superannuation earnings, which will particularly affect individuals with super balances above $3 million. For many Australians who have built significant retirement savings—particularly through self-managed superannuation funds (SMSFs)—understanding these changes is essential. On 13 October 2024, Treasurer Jim Chalmers announced key adjustments aimed
How to reduce $14,500 in tax payments As a registrar, you’re likely earning around $150,000 annually – a significant milestone in your career. But with that income comes a hefty tax bill. If you’re not proactive, you could be handing over more than $40,000 to the ATO each year. This article explores how you can legally
From 1 October 2025, Australia’s First Home Guarantee Scheme will undergo its most significant overhaul yet and for the normal Australian first home buyer, this presents both a massive opportunity to get into the property market. While the changes appear promising on paper, they’re expected to unleash a wave of new demand, especially from high-income earners.
If you’ve been thinking about buying your first home, there’s some big news making headlines. From 1 October, the Federal Government is rolling out major updates to the First Home Buyer Guarantee Scheme. The important thing to note is that medical professionals can already access these kinds of benefits through Walshs, with additional benefits!
