The Importance of Consistency

What is it that makes you consistent?

It’s the things you do, the way your view things, the approach you take and the responses you give.

Recently on holiday, I visited a maze. I entered the maze with a group of people and we came to a fork in the road. Which way to turn? We were all trying to get to the centre of the maze but there were no directions, so we had to guess how to get there.

I chose to go right. The people who had entered the maze beside me went left. I weaved around for a while and there was no one else on the path I was following, so I began to wo…

Are you keeping the right documents for your tax return?

The ATO have flagged in recent weeks the areas they will be targeting for the 2018 tax year and beyond. Their major focus area this year is work-related claims, including travel and motor vehicle expenses.

As such, there are certain documents and records you will need to retain as substantiation of any claims made in your return. That way, if the ATO question any claims made, you can provide the appropriate documentation to support your claim.

You must have written evidence of expenses you are intending to claim if the total claim exceeds $300. This doesn’t automati…

Foreign investor regulations for purchasing property – what you need to know

With the current state of the Tasmanian property market, purchasing a residential property is an appealing proposition for both local and foreign buyers. If you are a foreign investor, it is important to be aware of the rules surrounding residential property acquisition for foreign persons.

As a foreign investor you will need to obtain Foreign Investment Review Board (FIRB) approval before acquiring an interest in certain types of property investments. This list is not exhaustive, but two situations where the rules can apply that are relevant for the Hobart market are th…

Jay Bowden – finalist in the SMSF and Accounting Awards

Congratulations to Jay Bowden who as been shortlisted as a finalist in the SMSF and Accounting Awards 2018.

The SMSF and Accounting Awards recognise individuals and businesses who are leading the way, championing professionalism and innovation and providing quality advice.

Jay was nominated for Newcomer of the Year in the Victoria/Tasmania category of the awards.  Jay joined WLF Accounting & Advisory through our Undergraduate Cadetship Program in February 2015, immediately after completing year 12 at Hobart College.

Through the undergraduate program Jay is emp…

A practical approach to using risk management as part of post-incident review processes

Risk Management is often used as a tool to consider what could go wrong prior to a scenario occurring. But have you ever thought about using risk management as a tool for reviewing an incident after a disaster or risk event has occurred?

Learning involves inner reflection and analysis of ‘how could we have done this better?’ Approaches to risk management have evolved over time and whilst traditional risk management approaches may have seen an event occurring as a failure of risk management mitigation strategies, quite often there is a trade-off between the level of r…

Touring with the Derwent Valley Concert Band, and my son

During July, my son Connor and I were fortunate to be able to participate in a ten-day concert tour of Malaysia with the Derwent Valley Concert Band, based in New Norfolk, Tasmania.  Now in its 25th year of operation, the Derwent Valley Concert Band is one of Australia’s most highly acclaimed, travelled and successful Community Bands.  Winner of a number of Tasmanian State Championships, the band also tours every second year with previous tours having travelled to Japan, Canada, Austria, France, Belgium, Italy, Germany, Poland, Switzerland, Czech Republic, Sweden, Spain…

Updates, changes and tips for your Not-for-Profit organisation

If you’re involved with running a not-for-profit organisation as a CEO, executive or director, you will know how important it is to keep up to date with changes in regulatory requirements and legislation. And you will probably also know how time consuming this can be.

Our team is here to assist and keep you informed, so you can spend your valuable time helping the people and community that you serve.  The below provides a summary of critical information and updates for the not for profit sector. If you have any questions or concerns, contact one of our team or raise t…

Cybersecurity

Malware.  Trojan Horses.  Phishing.  No, we aren’t talking about animals or recreational activities, but rather examples of cybersecurity threats that ALL entities are exposed to.  If you haven’t already, now is the time to implement controls to help your business manage cybersecurity risks.

What are examples of cybersecurity threats?

Unusual terms aside, cybersecurity threats can result in extended periods where business critical systems are unable to be used, loss of data, data breaches, misappropriation of funds, and numerous other events that negatively im…

Is it time for your cloud health check?

Ensure you’re getting the best from your Xero, MYOB or Quickbooks cloud file

At WLF Accounting & Advisory we are proud to be working closer than ever with our clients to ensure they are moving forward as the current age of technology and the cloud rapidly evolves. Our firm has a dedicated ‘cloud team’ which is made up of various staff members with a future focus towards the cloud and new technologies that affect our clients.

WLF Partner and member of the cloud team, Paul Lyons believes “the cloud is becoming a commonly referenced term, however we are notic…

A healthy approach to growing a strong business

Five years ago, Emily Clark was working as a Pilates instructor in a small studio in Salamanca. Today, Emily and her partner Todd Skipworth own the business; have expanded across three sites; grown the services they provide; and built a team of almost 40 instructors. In between, they’ve also just welcomed their first child and still managed to lock in their goals and budget for the new financial year.

It’s been an impressive and very busy journey for Emily and Todd, but one they are thoroughly enjoying.

“We both love health and fitness, and we love a challenge!â…