Tax Tips for Property Investors
Monday, 29 April 2019
Owning an investment property can provide great benefits, including additional income and entitlement to tax deductions. The ATO has an increased audit focus on investment properties for the 2018-19 financial year and is expected to audit 4,500 rental property owners. Now is the time for property investors to take advantage of tax strategies available to
- Published in Articles, Business, Walshs Blog
Further extensions for Instant Asset Write-Off
Monday, 29 April 2019
The Instant Asset Write-Off Scheme has been extended to 30 June 2020 for assets purchased under $30,000. The scheme affects small to medium businesses with a turnover of up to $50 million a year, allowing business owners to immediately deduct assets costing up to $30,000 which can then be claimed in their tax return in
- Published in Articles, Business, Walshs Blog
Scam warning from the ATO
Friday, 08 March 2019
Scammers have developed a different tactic over the New Year to impersonate the ATO. Perpetrators are using an ATO number to send SMS messages to taxpayers, asking them to click on a link and hand over their personal details. The ATO received many reports in 2018 of scammers manipulating call identification so the phone number
- Published in Walshs Blog
Tax traps the ATO is watching
Friday, 08 March 2019
The ATO often focuses on specific behaviours, characteristics and tax issues that are suspicious and can lead to investigations. Due to enhancements in technology, the ATO has expanded its data matching capabilities which have improved the ability to identify incorrect reporting in tax returns. The ATO has released a list of behaviours and characteristics that
- Published in Walshs Blog
Instant asset write-off for small businesses to be extended and increased
Friday, 08 March 2019
The Instant Asset Write-Off Scheme will be extended to 30 June 2020 for assets purchased under $25,000. The Instant Asset Write-Off affects small businesses with a turnover of up to $10 million a year. It allows business owners to immediately deduct assets costing up to $25,000 which can then be claimed for tax return in
- Published in Walshs Blog
Making the most of your depreciation claims
Friday, 08 March 2019
Depreciation schedules greatly aid your investment in property by helping to maximise on your tax deductions.o receive legitimate deductions, you will need a qualified person such as a quantity surveyor, project organiser or supervising architect to undertake an onsite inspection of the property and compile a depreciation schedule based on this visit. Estimates of tax
- Published in Walshs Blog
Walk with Walshs 2019 registrations are now open
Tuesday, 12 February 2019
Walk with Walshs 2019 registrations are open. Join Walshs Practice in supporting the Leukaemia Foundation on a two-day 55km guided hike through the Sunshine Coast Hinterland. You can register, donate or find out more about Walk with Walshs 2019 here. Walshs’ CEO Michael Walsh said last year the Walk with Walshs team raised more than $20,000
- Published in Walshs Blog
Splitting super contributions
Wednesday, 16 January 2019
[vc_row type=”in_container” 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”][heading]Splitting super contributions between spouses can result in tax advantages that will help you grow your joint retirement nest egg.[/heading][vc_column_text]You must meet the eligibility requirements and follow tax rules to avoid incurring penalties from the ATO. Advantages of splitting super contributions Some advantages
- Published in Walshs Blog
Time for a super health check
Thursday, 10 January 2019
[vc_row type=”in_container” 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”][heading] Retirement may seem like a far-off event, but your decisions now will determine how comfortable you are when you stop working.[/heading][vc_column_text]Checking that your finances are on track is vital to maximising your super, reaping tax benefits and giving your future certainty. At
- Published in Walshs Blog
System overhauls for secure data
Thursday, 29 November 2018
A breach in your security systems or failure to backup could jeopardise your business’ productivity and profitability. Every year you should take time to secure your data to prevent panic should your computer systems fail. The effectiveness of backups relies on frequency and the type of technology used. For long-term solutions, avoid using USB and
- Published in Walshs Blog
Renewing your lease
Tuesday, 20 November 2018
Avoid leaving your business’ future in the dark by understanding your rights when your lease is up for renewal. A retail or commercial lease is a legally binding contract between a landlord and a tenant of a retail shop that allows the tenant to use the landlord’s property in return for rental payments. The process of
- Published in Walshs Blog
ATO issues Small Business Superannuation Clearing House (SBSCH) reminder
Monday, 29 October 2018
The Australian Tax Office (ATO) is reminding employers using Small Business Superannuation Clearing House (SBSCH) to check their employee details are accurate when making payment. Submitting incorrect employee details can risk their super fund rejecting your payment and returning the amount to the ATO. Once the ATO receives your payment, they will contact you and require
- Published in Walshs Blog
