The Fair Work Commission has determined that a Philippines based “independent contractor” was an employee unfairly dismissed by her Australian employer. You may be curious how a foreign national living in the Philippines, who had an ‘independent contractors’ agreement with an Australian company, could be classified as an Australian employee by the Fair Work Commission? […]
READ MOREStrategies to Ensure Prompt Payment Over the Holiday Season
Although you may hate to admit it, the holiday season is almost upon us. Depending on the industry that you are operate in, the holiday season may either present you with a range of advantages, or challenges (or both!). Businesses often encounter unique cash flow challenges over the holiday period due to the seasonal nature […]
READ MOREHow to Address Insufficient Net Tangible Assets for QBCC License Holders
As a QBCC (Queensland Building and Construction Commission) license holder, understanding the concept of tangible assets and how they impact your ability to meet financial requirements is crucial to maintaining your license and ensuring your business’s financial stability. This article, written by Senior Manager Jack Green, will cover what tangible assets are and explore options […]
READ MOREWalsh Accountants Celebrate Dual Award Wins
Celebrating Local Business Excellence We are thrilled to announce that Walsh Accountants has been honoured with not one but two prestigious awards this October! First, we proudly accepted the Outstanding Professional Services Award at the Local Gold Coast Business Awards. Celebrating excellence across the local business community, this recognition highlights our unwavering commitment to delivering […]
READ MOREUnderstanding the Australian Small Business Restructure Legislation
Understanding the Australian Small Business Restructure Legislation In the ever-changing economic landscape, many businesses face financial challenges that can threaten their viability. Fortunately, the Australian Small Business Restructure Legislation, introduced in 2020, offers a lifeline to eligible businesses. This legislation aims to provide a more accessible path for small businesses to restructure their debts, helping […]
READ MORESMSF Management: What Trustees Can and Can’t Charge Fees For
How to Avoid Non Arms Length Penalties Self-managed super funds (SMSFs) offer a level of control and flexibility that many individuals find attractive. They allow you to take charge of your retirement savings, making investment decisions and even managing aspects of the fund’s operations yourself. However, with this autonomy comes a layer of complexity, particularly […]
READ MOREGift or Tax Liability? How to Avoid the Gift Tax Trap
When is a gift not a gift? The Tax Commissioner has successfully argued that more than $1.6m deposited in a couple’s bank account was assessable income, not a gift or a loan from friends. The case of Rusanova and Commissioner of Taxation is enough for a telemovie. The plot features an Australian resident Russian couple […]
READ MOREEmpowering Women through Financial Literacy
At Walsh Accountants, we are dedicated to not only supporting the Gold Coast Women in Business Awards but also to empowering women through financial education. This commitment was exemplified on August 15, 2024, when we hosted our inaugural ‘Know Your Numbers Masterclass.’ This exclusive masterclass was offered to the winners and awardees of merit from […]
READ MOREIdentifying Growth Opportunities: A Strategic Growth Matrix
In today’s competitive landscape, businesses must continuously seek new avenues for growth. One effective way to identify these opportunities is by using a Growth Matrix. This tool helps businesses analyse their products and markets, guiding strategic decision-making and fostering sustainable expansion. The Growth Matrix Explained The Growth Matrix typically consists of four key quadrants that […]
READ MOREInflation’s Impact on Business: Why Budgeting and Cashflow Matter
Inflation, the rate at which the general level of prices for goods and services rises, eroding purchasing power, is a critical economic factor that affects businesses worldwide. In Australia, recent inflation trends have posed significant challenges for businesses, making it imperative for business owners to understand its impact and implement effective financial strategies. This article […]
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