Every year, we are asked about the tax implications of various Christmas related gifts and activities. Here, we break down the top 4 Christmas tax questions. Staff gifts The key to Christmas presents for your team is to keep the gift spontaneous, ad hoc, and from a tax perspective, below $300 per person. $300 is […]
READ MOREATO scrutinising gifts or loans from relatives overseas
Many people in Australia receive gifts or loans from relatives overseas. As a result, it is not uncommon for the ATO to scrutinise these transactions to ensure they are genuine and not undeclared taxable income or capital gains. If you are the recipient of a financial gift or loan from overseas, it is important that […]
READ MOREDirector Identification Numbers – applications opened 1 November 2021
On 1 November, applications for Director identification (ID) numbers opened. As part of its Digital Business Plan, the government announced the full implementation of the Modernising Business Registers (MBR) program with the Director ID the first step of the program. In the coming years ASIC & the ABR will come together to join one digital […]
READ MOREWhat triggers an ATO Audit?
Many business owners wonder what triggers an ATO audit and how businesses and individuals are selected from the millions of tax payers every year. Basically, the ATO will data match and look for anomalies (“red flags”). Government data matching has never been as sophisticated as it is today. This fast paced utilisation of technology provides […]
READ MORETourism and Hospitality Hardship Grant
Queensland tourism and hospitality operators facing significant financial hardship as a result of COVID-19 travel restrictions may be eligible for the Hardship Grant. Grants of up to $100,000 are available for a range of eligible tourism and hospitality operators. The $80 million program will support these businesses to continue offering a viable product and be […]
READ MORESuper stapling – what does this mean for your business?
Super stapling commenced on 1 November. If you are in business, you will need to adjust your process for on boarding new employees because you will play a key role in the Your Future, Your Super reforms. What is super stapling? A stapled super fund is an existing super account which is linked – or […]
READ MOREGold Coast Women in Business Awards – Nominate NOW!
For many years, Walsh Accountants have had a focus on supporting women entrepreneurship and the significant contribution women make to businesses. As such, in 2016 we made the decision to partner with and sponsor the Gold Coast Women in Business Awards. We love the way these awards celebrate the extraordinary achievements of women. The Gold […]
READ MORE2021 COVID-19 Queensland financial support
QLD COVID-19 financial support update Non-employing sole trader grant now available If you’re a non-employing sole trader that was financially impacted by a lockdown event, the Queensland government has made a $1000 financial support grant available to you. Applications are open now and will remain open until the 30 November 2021. For more information including eligibility […]
READ MOREWorking from home? 3 Practical tips for business owners
With COVID-19 impacting businesses across all industries, it may be time to consider if your team can work from home? If this is an option for you, it is essential that you implement procedures and policies that keep your team accountable to ensure continuity of your business Does your team have everything they need to […]
READ MORE2021 COVID-19 Business Support Grants for lockdown-impacted businesses in Queensland
Update 16 August 2021 Applications for the $5000 COVID-19 Business Support Grants will open at 12pm (midday), 16 August 2021 The grants will be available to eligible small and medium businesses and large tourism and hospitality businesses across Queensland affected by the August 2021 COVID-19 lockdowns. For all the information, visit the Queensland Government grants […]
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