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
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: •
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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
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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
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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
