How is the super death benefit taxed?
Thursday, 25 October 2018
When it comes to how the super death benefit is paid out, there are specific tax implications involved which affect the amount a nominated beneficiary will receive. In a situation where super is paid out after an individual has passed, it is generally split up into two components; taxable and tax-free. The tax-free portion of a super
- Published in Walshs Blog
How to choose between a family trust and SMSFs
Monday, 22 October 2018
Family trusts and self-managed super funds (SMSFs) have a lot to offer Australians as wealth transfer and management tools. Family trusts and SMSFs carry their own benefits and disadvantages in providing a way to transfer and manage your family’s wealth. By weighing up the points of difference, you can choose the most appropriate option for
- Published in Walshs Blog
Acquiring assets legally in a self-managed super fund
Friday, 19 October 2018
Strict investment rules govern how trustees can acquire assets through self-managed super funds (SMSF) from related parties. When it comes to acquiring an asset from a related party, a trustee must ensure it is an ‘arm’s length transaction’, in other words, the asset is purchased at market value. This means ensuring it is also: •
- Published in Walshs Blog
Walk with Walshs will be back in 2019 with a bigger fundraising target
Monday, 15 October 2018
Following a tour of the Leukaemia Foundation’s ESA Village in August, CEO Michael Walsh has announced Walk with Walshs will now become an annual event. The second annual Walk with Walshs will be held on 17 – 18 August 2019. The two-day 55km trek through the Sunshine Coast hinterland was first held in May this
- Published in Walshs Blog
Track accurate journeys with Walshs powerful GPS Logbook
Wednesday, 10 October 2018
We launched the new Walshs App just last month and now we have made our first update, with a state-of-the-art GPS Logbook, using advanced GPS technology to accurately track both your business and personal trips. We’ve added this enhancement so you can use the GPS Logbook within our App to help prepare for your tax returns, and track daily
- Published in Walshs Blog
Can you claim the $20,000 instant asset write-off?
Monday, 01 October 2018
Businesses with an annual turnover less than $10 million (from 1 July 2016) can claim the $20,000 instant asset write-off. If you buy an asset and it costs less than $20,000, you can write off the business portion in your tax return for the relevant income year. You are eligible to use simplified depreciation rules and
- Published in Walshs Blog
GST and new residential property
Sunday, 30 September 2018
The Australian Taxation Office (ATO) has announced changes to the way GST is collected at settlement. According to the ATO, if you are purchasing new residential premises or potential residential land you are required to withhold part of the purchase price for payment (to the ATO) must submit a number of online forms. These forms
- Published in Walshs Blog
Walshs has launched a new app
Monday, 24 September 2018
The new Walshs app includes popular key functions as well as links to our new online calculators. You can download the new Walshs app completely free of charge. And the good news is accessing the new Walshs app is much easier than doing your tax return. You don’t have to be a client to use
- Published in Walshs Blog
New initiative to acknowledge referrals and help families in need
Monday, 13 August 2018
Since 1 July 2018 the team at Walshs has been making a donation to World Vision for every referral they hear about. Each donation buys fast-growing seeds for one family to help parents provide nourishment for their children all year round. Walshs Partner Hugh Walsh launched the initiative which he said was very important to Walshs. “It
- Published in Walshs Blog
Superannuation Update, Spring 2018
Tuesday, 07 August 2018
[vc_row type=”full_width_content” full_screen_row_position=”middle” scene_position=”center” text_color=”dark” text_align=”left” overlay_strength=”0.3″][vc_column column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ width=”1/1″ tablet_text_alignment=”default” phone_text_alignment=”default”][vc_column_text] The superannuation and finance industry is going through some interesting times at present – the Royal Commission, property market peaking in this cycle, a watching brief on interest rates and a share market trying to find direction. As many of our
- Published in Walshs Blog
Tax Update, Spring 2018
Tuesday, 07 August 2018
Walshs CEO Michael Walsh discusses the changes in tax law from 1 July 2018 and what the tax man is thinking for 2018-2019. We cannot stress how important it is for clients to maintain adequate records and to be timely in providing us with information. The Walshs Way is to be proactive in advising clients
- Published in Walshs Blog
WALK WITH WALSHS
Tuesday, 22 May 2018
Hiking to Beat Blood Cancer Saturday 19 May – Sunday 20 May 2018 Two days and 55km through subtropical rainforest, past stunning gorges, waterfalls and scenic coastal panoramas, the Walk with Walshs team shed blood, sweat and tears (of joy of course!) to raise vital funds for the Leukaemia Foundation . Our team of 20
- Published in Walshs Blog
