Archive for the "News" Category
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WLF Workplace Giving: Making a Difference in 2025
Posted on December 16th, 2025 by WLFAt WLF, giving back to our community is part of who we are. Through our Workplace Giving Program, our team has once again demonstrated that when we come together, even small contributions can create meaningful change. This year, we proudly supported a range of incredible organisations that are making a real difference in areas such as youth development, mental health, accessibility, and vital care services. By pooling our efforts, we help strengthen programs that empower individuals, foster inclusion, and provide hope where it’s needed most.
JCP Youth empowers young peop… -
WLF Joins Forces with CBA Hobart at The Mind Games to Champion Workplace Mental Health
Posted on December 5th, 2025 by WLFTwo of WLF’s leaders, Director James Watson and Manager James Day, joined forces with colleagues from CBA Hobart’s Business Banking Team in a team called the “Amortizators” at The Mind Games, Tasmania’sultimate corporate challenge promoting mental health awareness and research. Held at Princes Wharf No. 1 in Hobart, The Mind Games is a high-energy event where 50 corporate teams of five compete in 10 creative, problem-solving challenges designed to test teamwork, communication, and ingenuity rather than physical fitness. The initiative raises vital funds for the…
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Late on ATO payments? Why delays are more costly now
Posted on November 26th, 2025 by Marg MarshallWhen a taxpayer is late paying their tax debt, the ATO has the option to charge general interest charge (GIC). This is currently charged at 10.61% pa. As of 1 July 2025, GIC is not tax deductible.
In recent years, WLF and our clients have had a good relationship with the ATO. The COVID period saw the ATO relax a little on lodgement and payment expectations, and this assisted us and you, our clients, to manage obligations and, for the most part, recover from that time and meet tax obligations in a timely manner. When payment of tax debts was dif… -
Everything You Need to Know About Your Australian Student Loan and the 20% Reduction
Posted on November 21st, 2025 by Jacob Goodwin
If you’ve got a student loan in Australia, you may have heard that the government has introduced a one-off 20% reduction on education loans, alongside new fairer repayment rules.
Here’s what you need to know.
What’s Changing?
Anyone with an outstanding student loan as at 1 June 2025 will have their balance cut by 20%. This applies to:HELP loans (HECS-HELP, FEE-HELP, OS-HELP, SA-HELP, STARTUP-HELP)
VET Student Loans
Australian Apprenticeship Support Loans
Legacy schemes like the Student Financial Supplement Scheme.Do You Need to Do Anything…
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Celebrating 135 years of WLF Accounting & Advisory
Posted on November 17th, 2025 by WLFLast week, WLF Accounting & Advisory proudly marked a significant milestone, 135 years of service to the Tasmanian community. Since our beginnings in 1890 as Wise & Inglis, we’ve grown and evolved through generations of change, while staying true to the values of integrity, professionalism, and community connection that define us.
From supporting household names in Tasmania’s early days to partnering with today’s innovators and entrepreneurs, our journey reflects that of our clients and is one of resilience and adaptability. Over the decades, we’ve�… -
Some days are extra special, and this was one of those days.
Posted on November 3rd, 2025 by Joanne Curran
Image: Sophie Davidson, CEO of Eskleigh Foundation and Jo Curran, Consultant from our Audit, Assurance & Advisory Division.Through our workplace giving program, we were able to donate funds to Eskleigh Foundation Inc.Their amazing CEO, Sophie Davidson called in and gave us an update about the remarkable work the Foundation is doing and how our donation can help.
Eskleigh is a not-for-profit that has been supporting Tasmanian’s for over 70 years, with a focus on helping those with a disability.
In recent times, Eskleigh has provided more sho… -
Australia’s National Artificial Intelligence Centre Releases Guidance for Responsible AI Adoption
Posted on October 30th, 2025 by Georgie PriceThe Australian Government through its National Artificial Intelligence Centre (NAIC) has launched its latest Guidance for AI Adoption, a comprehensive framework designed to help Australian organisations adopt artificial intelligence responsibly and effectively. Released in October 2025, this guidance marks a significant step in aligning AI governance with both national ethics principles and international standards.
Why This Matters
AI is transforming industries, from finance and healthcare to education and government. While the benefits are clear—efficiency, innova… -
The Accountant Versus the ATO – High Court Case Could Reshape Tax Treatment of Trust Distributions
Posted on October 30th, 2025 by Paul LyonsIt’s not the next block buster movie but does have shades of the ‘Castle’ about it!
A long-running legal dispute between a suburban Melbourne accountant and the Australian Taxation Office (ATO) has reached the High Court, with potential significant implications for how trust distributions are taxed, particularly those involving corporate beneficiaries.
The case, involving accountant Steven Bendel, stems from amended tax assessments issued by the ATO for the 2014 to 2017 financial years. The assessments related to unpaid present entitlements (UPEs) from a trust to a c… -
Government Announces Major Changes to Division 296 Superannuation Tax
Posted on October 13th, 2025 by James Watson
What’s changed
The Federal Government has announced a revised version of the proposed Division 296 superannuation tax. The amendments respond to widespread industry concerns about fairness, liquidity, and the inclusion of unrealised gains.
These changes are not yet law. Legislation will be introduced later in 2025 for parliamentary consideration.
Summary of key announcements
Measure
Original Proposal
Revised Position (13 Oct 2025)
Tax rate
Flat 15 % additional tax on earnings from super balances > $3 million
Two-t…
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GST and Cars: What Business Owners Need to Know
Posted on October 8th, 2025 by Paul Lyons
Purchasing a car through your company can be an attractive proposition, but it’s essential to understand the GST rules and potential pitfalls, especially when it comes time to sell.
GST Cap on Car Purchases
When a business purchases a car, it can generally claim a GST credit for the GST included in the purchase price but only up to a capped amount. For the 2025–26 financial year, the car cost limit is $69,674, which means the maximum GST credit claimable is $6,334 (i.e. 1/11 of the limit).
Even if the car costs significantly more say $200,000 the GST credit is sti…