News

Archive for the "News" Category

  • Save the date: Xero seminar on Wednesday 15 November

    Posted on August 23rd, 2017 by WLF

    We are delighted to advise that we are partnering with Xero again this year to present a free seminar about cloud accounting software.

    The seminar will be held in Hobart on the afternoon of Wednesday 15 November and will consist of two sessions:

    Session 1 – for those new to Xero, or considering moving to cloud accounting software:

    Improve cashflow
    Save time by automating tasks and reduce data input
    Get better information for decision making

    Session 2 – an update for anyone using Xero:

    Major updates from the past 12 months
    Tips and tricks to ensur…

    Posted in News
  • Taxation of Trusts

    Posted on August 23rd, 2017 by Paul Lyons

    There has been a lot of discussion of late about the tax treatment of trusts. The ATO estimates that there are some 800,000 Trusts in operation in Australia, with total assets around $3 trillion. With that sort of size, it was only a matter of time before one of the parties decided to focus on them. However, ATO statistics also reveal rather moderate growth of less than 2% per year between 2010 to 2015, so maybe the horse has bolted?

     

    What are Trusts?

    Trusts have been around since the 12th Century when Crusaders transferred ownership of their lands in trust s…

    Posted in News
  • Benefiting the health and wellbeing of Tasmanians

    Posted on August 23rd, 2017 by WLF

    Gaining maximum impact with minimal resourcing is always a challenge in business, and never more so than in the not for profit sector. And yet the achievements of the Royal Hobart Hospital Research Foundation somehow make it look easy, at least from the outside!

    The Foundation was established twenty years ago to raise funds to support local medical research and to date, over $7m has been awarded to research projects and Fellowships aimed at benefitting the health and wellbeing of Tasmanians.

    With this level of success many people would be surprised to learn that the R…

    Posted in News
  • Estate planning, tax myths & martial arts principles in business

    Posted on August 22nd, 2017 by WLF

    Earlier this year we launched a blog section on our website, inviting team members at WLF to share their commentary and expertise on a range of topics.

    Articles to date have included everything from succession planning through to the parallels between business principles and the discipline of practicing martial arts.

    When new articles are available we promote them via the firm’s social media channels, and we invite you to follow us by clicking on the links below.

    If you’re not on social media, or prefer to use it for just close family and friends, you can acces…

    Posted in News
  • What can I claim against my tax?

    Posted on August 22nd, 2017 by Paul Lyons

    It’s tax time again. What can you claim to reduce your tax? In this article, we’ll discuss:
     

    Deductions you can claim
    The ‘tax trap’ you need to avoid
    Links to more information about specific deductions

     

    Deductions you can claim

    As a general rule of thumb there are 3 things you need to claim a work-related deduction:

    You must have spent the money yourself and weren’t reimbursed;
    It must be directly related to earning your income; and
    You must have a record to prove it.

    The ATO allows you to claim up to $300 for work r…

    Posted in News
  • Single Touch Payroll – will my business be affected?

    Posted on August 11th, 2017 by Rachel Mendlik

    The Australian Taxation Office (ATO) has introduced a new initiative, Single Touch Payroll (STP), that impacts business payroll reporting from 1 July 2018. This article will provide an overview of the system and help you determine if your business is obliged to comply with these new requirements.

     

    What is STP?

    STP is a government initiative that will change the way you report your payroll information to the ATO, and is mandatory for employers with 20 or more employees.

    Employers will be required to report gross payments, PAYG Withholding and superannuation…

    Posted in News
  • Federal Budget Update presentations

    Posted on May 17th, 2017 by WLF

    Our Federal Budget Update, presented in collaboration with UNICA Wealth, was held on Wednesday 10 May and it was a great opportunity to catch up with valued clients, share some expert commentary on the budget announcements and finish the day with some refreshments and a chat.

    For those unable to attend, the presentations from WLF Partner Marg Marshall and UNICA Wealth Managing Director Dominic Mulcahy are now available to watch below:

    As we mentioned on the day, the Q&A session was not recorded to ensure clients felt free to ask questions relating to their per…

    Posted in News
  • WLF joins Australia’s Biggest Morning Tea

    Posted on May 17th, 2017 by WLF

    Our team took a quick break from their desks today to join in Australia’s Biggest Morning Tea, and raise funds for cancer research, support services, prevention programs, and advocacy.

    Thanks to all our colleagues who took time to do some baking, came along for a chat, and help raised money for such a great cause.

    Posted in News
  • EY Financial Reporting Update & Surviving the New Paradigm for NFPs – presentations available

    Posted on May 17th, 2017 by WLF

    Our annual EY Financial Reporting Update was held at The Stables on Tuesday 2 May, and we were delighted to welcome Chantelle Duffy and Georgina Dellaportas from EY to share their expertise on key issues across accounting standards, corporate governance and financial reporting. Chantelle and Georgina have kindly made their presentation available for any of our valued clients who were unable to attend on the day. Click here to view.

    The EY seminar was followed by an afternoon dedicated to the not for profit sector, where we welcomed valued clients and visitors from within…

    Posted in News
  • What the 2017 Federal Budget means for you

    Posted on May 10th, 2017 by WLF

    Treasurer Morrison brought down his second budget last night. The measures propose to bring the budget to surplus by 2020-21. We are pleased to present you with some highlights that will impact you, our valued clients.

    The $20,000 asset write-off for small business has been extended for one year however there are otherwise limited changes impacting small businesses and no news on tax reform. A crack down on the deductions available for rental property owners is offset somewhat by an increase in the CGT discount for investment in qualifying affordable housing.

    The high…

    Posted in News
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