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
If you are considering taking the plunge into the world of medical practice ownership, knowing where to start can be the biggest challenge. Whether you are looking to buy in, take over or start a medical practice from scratch, Walshs specialises in the medical accounting and financial planning space and can help you make sense
With fuel prices on the rise, along with a global environmental awareness, the electric vehicle market in Australia has seen an exponential growth. For small business owners where business vehicles are a common asset with sizable deductions, it is important to know the differences between what can be claimed for a motor vehicle (MV) and
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
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
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
By Michael Walsh, CEO of Walshs For clients whose Self-Managed Superannuation Fund (SMSF) is in pension mode, it is important to remember that at least the minimum annual pension amount must be withdrawn from the Fund and paid to the members before 30 June, 2020. It is preferable for the pension withdrawals to be made in
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
By Michael Walsh, CEO of Walshs The Federal Government announced on 30 March, 2020, that it will introduce a business support package to help employers continue to employ their staff where the business has been affected by Coronavirus. The JobKeeper payment is designed to keep those currently employed in their jobs and legislation to approve it will
By Simon Farmer, Partner of Walshs From 31 March 2020, a raft of new changes around the design and pricing of Income Protection insurance (IP) will come into effect and it is essential those working in Queensland’s health sector know exactly what this means for them. The changes focus, in particular, on Agreed Value contracts