Estate Planning Needs

As accountants, business and taxation advisors our role covers many aspects of our clients’ financial affairs.

One important matter that often gets overlooked by clients caught up in the everyday running of their businesses and personal affairs is what would happen if they were to pass away.  Would their family be well looked after? Where would their assets go?  Would the Assets go where they want them to go?

To this end we are regularly encouraging our clients to implement and subsequently review their Estate Planning.

When you think Estate Planning do not jus…

Business expenses – when to spend and when to save

Running a profitable business is a balancing act. You need to decide where to spend and where to save in order to get the best long-term return for your business.

But are there some areas where it’s not a good idea to lower your spending? Definitely.

Here are some areas where it may be tempting to cut costs, but   skimping now may end up causing you a lot of stress in the long term.

Insurance

Under-insuring (or not insuring at all) the key assets of your business may work out for you – provided nothing ever goes wrong. But if things do go wrong, it…

Federal Budget Update presentations

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…

WLF joins Australia’s Biggest Morning Tea

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.

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EY Financial Reporting Update & Surviving the New Paradigm for NFPs – presentations available

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…

What the 2017 Federal Budget means for you

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…

2017 Business Tax Planning Guide

Here’s a guide to the strategies you can use to minimise your business tax.
Imagine what you could do with tax saved?

Reduce your home loan
Top up your super
Have a holiday
Deposit for an Investment Property
Upgrade your Car

1.  IS YOUR BUSINESS A “SMALL BUSINESS ENTITY”?

Small businesses can access a range of tax concessions from the ATO. To qualify as a “Small Business Entity”, the business must have an aggregated turnover (your annual turnover plus the annual turnover of any business connected / affiliated with you) of less th…

2017 Personal & Families Tax Planning Guide

The biggest super and tax changes in the last 10 years will affect you in 2017 and 2018. Now’s the time to review what strategies you can use to minimise your tax before 30 June 2017.
 
Key Superannuation Changes
While you might not be flush with cash now and able to put large amounts into superannuation, it’s important that you are aware of what is possible to maximise your super balance and possibly reduce your tax at the same time.

1. LOWERING OF CONCESSIONAL CONTRIBUTION CAP TO $25,000 FROM 1 JULY 2017

The concessional (tax deductible) super co…

Succession Planning – Why is it so important and how do you go about doing it?

Successful succession planning allows for a family business to pass through to the next generation, with a smooth transition and minimal impact to business. Succession planning can start as early as the day that you commence business.

It is better to have a plan in place, even if it’s a rough plan that needs to be refined over time. A good succession plan is linked to your business plan and encompasses the business goals and strategies for the next few years. With any succession plan clear communication with the parties involved is critical so that they are fully aware…

Federal Budget Update – Presented by WLF & UNICA Wealth

Every year our Specialist Tax Advisory team work throughout federal budget night to compile an overview of the key points brought down in the budget, and how they will affect our valued clients.

This year we are also inviting our valued clients to join us in person for an update on the budget, including expert commentary a Q&A session and a relaxing glass of wine. 

WLF Partner Marg Marshall will share her thoughts and commentary on the budget for the year ahead, in particular the impact on tax for individuals and businesses.

Marg will be joined by Dominic M…