Archive for the "News" Category
Posted on April 23rd, 2019 by WLF
The federal election has been called for May 18 and both major parties have outlined their superannuation and tax policies. With the federal election only weeks away many of our clients have been asking what the major political parties’ policies are that may impact their SMSF, individual taxation circumstances or personal investments.
If you would like more information on a particular policy announcement, please do not hesitate to contact our office to set up a time to discuss any requirements you may have.
Posted on April 17th, 2019 by WLF
We are pleased to invite our valued clients to the 2019 Financial Reporting Update, presented in partnership with EY, on Wednesday 15 May.
This year’s presentation will focus on the changes, both recent and upcoming, to accounting standards. Guests will gain a thorough understanding of the changes, the ramifications for their organisation and what they can do internally to prepare.
Staying up to date on accounting and financial reporting rules is critical to any organisation and this annual event continues to provide a valuable resource, with expert commentary on…
Posted on April 3rd, 2019 by WLF
brought down his first budget last night.
proposes various changes to further lower individual taxes, including
increasing the low and middle income tax offset, and lowering the 32.5% rate to
30% in 2024/25. More businesses will have access to immediate deductions for
asset purchases, with the expansion of the instant asset write-off to
businesses with an annual turnover of less than $50m.
We are pleased to
present you with some highlights that will impact you, our valued
Posted on March 27th, 2019 by WLF
With the upcoming Federal election expected for May 2019, the Federal Budget will be handed down by Treasurer Josh Frydenberg on the evening of Tuesday 2 April, a month earlier than the usual schedule.
We are delighted to invite our valued clients to join us for our annual Federal Budget Update event. This year our event will be held the week following the budget announcements, which will allow us to take a broader focus and include commentary on the Opposition’s Budget Response.
Presented in collaboration with UNICA Wealth, this event will provide an overview of the …
Posted on March 20th, 2019 by WLF
The Partnership and team are proud to congratulate Dean Johnson on his recent
recognition as a CA Business Valuation Specialist.
Dean received the official accreditation through Chartered Accountants Australia
and New Zealand earlier this month, after completing formal study and
exams. To date he is one of only two people in Tasmania to qualify for the
“This is an area of I have been working in for almost 10
years now” remarks Dean. “I initially started under Harvey Gibson’s
supervision, undertaking research and writing assignmen…
Posted on February 19th, 2019 by Melissa Johnson
It was announced on 12 February
2019 that the legislation for Single Touch Payroll (STP) for employers with 19
or less employees has now passed Parliament. Reporting will be required from 1
July 2019, with a buffer period to 30 September (limited exemptions available).
Businesses with 20 or more
employees began reporting on 1 July 2018, and will not be affected by this new
STP is a change to the way
employers report their employees’ wages and superannuation information to the
Australian Taxation Office (ATO). Employers will be required to electronical…
What is, and isn’t material? Proposed changes for peppercorn leases, and how to treat leave loading and super.Posted on January 16th, 2019 by WLF
Updates from the Audit, Assurance & Advisory Team
As auditors, we are often asked
questions that apply across various types of organisations and industries. The
below information provides an update on a few key changes and sheds some light
on a topic that often raises questions – how to treat leave loading in
If you have any questions, please contact one of our team.
The new definition of material
In practice, many entities
disclose immaterial information and omit material information from their
financial statements. This reduces th…
Posted on December 12th, 2018 by WLF
Changes are in the wings to a popular type of business loan called a ‘Division 7A loan’. Division 7A is a framework that governs the terms on which individual shareholders and related parties can borrow money from private companies. These are popular types of loans and are commonly used to extract money out of companies to fund purchases such as commercial property or to lend money from one entity to the other.
The current rules require the loan to be documented, as well as being repaid over a 7-year (unsecured) or 25-year (secured) term, with int…
Posted on December 12th, 2018 by Paul Lyons
December is usually the busiest time of the year for retail and hospitality businesses. However, businesses in other sectors often find that their sales slow down and their customers stop paying them fora few months. This means cash flow dries up, turning their January and February into cash flow nightmares.
Whether your business is large or small,well-established or in start-up mode, you need to take a planned approach to managing cash flow during the holiday season. Here are few tips for keeping on top of cash flow management during the Christmas and New Year holiday …
Posted on December 5th, 2018 by WLF
A strategic plan is a vital tool for any business or organisation. It captures the needs and opportunities for the organisation and sets the future direction to meet medium- and long-term goals. Essentially, a strategic plan sets an organisation up for success.
However, for many people running a business, finding the time to develop a strategic plan is a challenge, particularly where there are multiple stakeholders to consult and a broad range of service offerings to deliver.
Under a recent change to the Local Government Act, the local councils in Tasmania are require…