July 2022 saw a number of changes to the superannuation rules and many will have a positive outcome for members of superannuation funds. The changes were announced and legislated by the Morrison government so it’s important to note that the new government will be delivering its first Budget in October 2022. The superannuation tax concessions could be
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
By Michael Walsh, CEO, Walshs Job losses have been extensive during the COVID-19 pandemic and the JobMaker Hiring Credit will give businesses incentives to take on additional employees aged between 16 and 35 years old. The Federal Government estimates the initiative will support 450,000 jobs. Like JobKeeper, the JobMaker Hiring Credit is a wage subsidy paid
By Michael Walsh, CEO, Walshs COVID-19 has had a profound impact on individuals and businesses and the flow-on effects will likely be felt for some time. The Federal Budget 2020 includes a range of benefits and incentives, which hopefully will assist Australia to have a speedy recovery from our current economic position. Updates for individuals:
By Michael Walsh The Federal Government has extended the JobKeeper Scheme for eligible businesses and self-employed workers for a further six months to March 2021 (previously due to expire 27 September, 2020). Businesses will need to reassess their eligibility for the JobKeeper 2.0 Scheme, and those eligible will receive a reduced rate of payments for their employees based
By Peter Hodgson of Walsh’s Financial Planning The 2019/20 financial year began with strong momentum across most financial markets. However, as the year progressed, unemployment drifted higher and, coupled with benign inflationary pressures, many countries began to lower interest rates further in response. As the financial year headed towards March, COVID-19 rapidly spread across the
By Michael Walsh, CEO of Walshs The Federal Government has unveiled plans to extend its JobKeeper Payment by six months. The payment was originally due to expire on 27 September, 2020, but the Government has announced it will be extended by a further six months to March 2021, for eligible businesses and self-employed (called business
By Peter Hodgson, Financial Advisor at Walshs The Federal Government’s new HomeBuilder program is great news for Australia’s building industry, as well as people wanting to improve their homes. But it comes with strict criteria. Prime Minister Scott Morrison unveiled the program, which will give eligible Australians $25,000 to build or substantially renovate their homes,
Walshs Partner, Hugh Walsh, recently spoke with two experts from law firm Hillhouse Legal Partners – Managing Director Zac Herps and Director Robert Lamb – to answer some of the questions many of our clients have during the challenging times we are facing during the COVID-19 pandemic. Both Zac and Robert have a strong history
How can surgeons take best advantage of government incentive schemes, should they be deferring paying their 2019 tax bills and is it too late to take a more defensive stand on superannuation funds? They are just some of the key questions posed by Walshs’ Simon Farmer and Hugh Walsh in a special video presentation aimed