Tax Planning Tips for Businesses & Individuals
Thursday, 28 April 2022
As we move towards the end of financial year, it becomes important to look at your tax planning and ways that you can maximise your tax savings. These tax planning tips for individuals and businesses will help you cover off some important considerations before the end of the 2021-2022 financial year. RECORD KEEPING Taxpayers are required
- Published in Articles, Walshs Blog
Medical Practice Owner – Employment Checklist
Tuesday, 26 April 2022
Your team are the lifeblood of your medical practice and a key element to the success of your business. When commencing the process of employing staff, there are many factors that must be considered to prepare your business for the recruitment process and to manage the ongoing payroll and employment demands with ease, whilst still
- Published in Walshs Blog
Wholesale, Sophisticated or Retail – what is the difference?
Tuesday, 12 April 2022
In the world of investing, you may hear various levels of investors referred to as wholesale, sophisticated investors or retail investors in relation to a particular financial product or service. But what does that mean, how can you determine which you are and what are the benefits of each? In this article, Carolyn Duffy, Investment
- Published in Walshs Blog
2022-23 Federal Budget Unpacked
Thursday, 31 March 2022
The 2022-23 budget was handed down this week by Federal Treasurer Josh Frydenberg which encompassed the economic stability Australia is experiencing as it rebounds from the COVID-19 pandemic. Significant tax and productivity reforms were low on the agenda with focus mainly on key spending measures and continuing Australia’s post-pandemic, natural disaster and conflicted international environment
- Published in Walshs Blog
2021 – 2022 Fringe Benefits Tax Year
Tuesday, 29 March 2022
It’s Fringe Benefits Tax (FBT) time again and this FBT year will end on 31 March 2022. If you provide your employees with a benefit other than salary, wages, bonuses and superannuation, it’s likely you are providing Fringe Benefits to your employees. You could also be providing benefits under tax law, to employees’ family and
- Published in Walshs Blog
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
