ESIC Concession Provides Generous Tax Incentives for Qualifying Investments
Monday, 14 March 2022
From 1 July 2016 investors have been able to benefit from the Early-Stage Innovation Company (ESIC) incentives for qualifying investments. The tax incentives available are: A non-refundable carry forward tax offset of up to $200,000 in any one income year Capital Gains Tax (CGT) exemption or reduction on eligible investments. Qualifying for the tax
- Published in Walshs Blog
Natural Disasters, Tax Records, and the ATO
Wednesday, 09 March 2022
The first 7 days of the recent weather event throughout South-East Queensland saw over 15,000 homes affected by flooding, which has sadly greatly increased as the weather cell continued to move south through New South Wales. QLD and NSW residents have experienced considerable losses of homes, cars, and personal items, with tax records among these
- Published in Walshs Blog
Superannuation Update – Autumn 2022
Wednesday, 09 March 2022
2021 was a busy year for the superannuation industry, and no doubt as we head to a federal election superannuation will again be a hot topic. A few weeks ago, Federal Parliament passed new legislation to be effective from 1 July 2022 which will provide additional attractive concessions for members of superannuation funds. We discuss these
- Published in Walshs Blog
Locum’s work-related expenses disallowed
Wednesday, 01 December 2021
Doctors claiming car expenses, meals and incidentals related to working locum shifts need to take care to avoid penalties, following a recent decision by the Administrative Appeal Tribunal (AAT). In the case, a Melbourne-based doctor who regularly undertook locum medical assignments at various hospitals in Victoria and New South Wales, while also working as a
- Published in Walshs Blog
Court decisions uncover payroll tax risks for medical practices
Thursday, 04 November 2021
Two recent court decisions have highlighted potential payroll tax risks for medical practices that operate under a shared services model. In New South Wales and Victoria, doctors and optometrists practising as independent sole traders have been deemed employees, allowing the relevant state bodies to issue backdated payroll tax assessments for up to five years and
- Published in Walshs Blog
Is it time for your own private practice?
Tuesday, 14 September 2021
So, you have completed your training, you are now a consultant and have done a fellowship… what next? If you’re like most medical professionals, chances are you’ve thought about taking the next step in your career by transitioning into private practice. But how do you know when the time is right, and what are the
- Published in Walshs Blog
Walshs marks 30 years in business
Monday, 13 September 2021
This month, Walshs celebrates its 30th anniversary. It’s a significant milestone for the company which has grown to become one of Brisbane’s leading fully integrated financial services firms. “Our firm has come a long way since it was founded back in 1991,” Founder and CEO Michael Walsh said. “Watching the firm grow from three staff members
- Published in Walshs Blog
Taking the right steps into private practice
Monday, 13 September 2021
If you’re considering a move into private practice, there are a range of decisions you’ll need to carefully navigate to avoid losing money and finding yourself in trouble with the ATO. Whether it is starting with the right business structure, finding funding to establish your rooms, or protecting your growing wealth, Walshs has years of
SMSF End of Financial Year Checklist
Wednesday, 23 June 2021
As 30 June 2021 fast approaches it is important to ensure the tax planning and compliance issues relating to your self-managed superannuation fund are in order. Set out below are a few matters to consider and take action on where necessary. Contributions The maximum contribution levels for 2020-21 for concessional and non-concessional contributions are: Concessional
- Published in Articles, Uncategorized, Walshs Blog
Transferring money from overseas to Australia
Wednesday, 09 June 2021
We explain the tax implications of transferring money to Australia and why professional advice is so important. Australian tax law is a complex web of rules and reporting requirements that is constantly being tweaked and reshaped by the federal parliament. This makes it challenging to keep abreast of the ins and outs that keep you
- Published in Walshs Blog
Business Growth Fund Program
Monday, 17 May 2021
Helping to Grow your Business The Queensland Government funded BGF program provides funding for small and medium-sized businesses who experience high-growth to assist with the purchasing of specialised equipment to further growth potential, increase production, and support employee expansion and higher economic returns. Small to medium sized business owners who are financially sound, and can
- Published in Articles, Business, Walshs Blog
Outcomes and implications of the Federal Budget
Thursday, 13 May 2021
The announcement of the Federal Budget delivered on Tuesday night may have left you considering what the main outcomes and implications are to you and your business. The team at Walshs have put together a summary of the key considerations and take-aways from Tuesday’s Federal Budget announcement for you below. As always, we are here
- Published in Uncategorized, Walshs Blog
