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 […]
READ MOREThe Price is Right: A Summary of the 2024/25 Federal Budget.
A Summary of the 2024/25 Australian Federal Budget and how it impacts small business. Budget 2024-25 is a pre-election budget for the people with everyone getting a little something to ease cost of living pressures. Like the Price is Right gameshow, it will all come down to the price paid at the checkout. For business, […]
READ MORETax Minimisation Strategies: for Business Owner’s and Non-Business Entities
At this critical juncture of the year, the looming specter of tax obligations can weigh heavily on the minds of business owners, causing undue stress and uncertainty. That’s precisely where Walsh Accountants steps in as your trusted ally. Our mission is simple: to alleviate your tax-related worries and empower you to proactively manage your liabilities. […]
READ MORESecure Your Retirement: A Simple Guide to Choosing the Right SMSF Accountant
Selecting the right SMSF (Self-Managed Superannuation Fund) accountant is a critical decision that directly impacts your financial future. A qualified and experienced professional can become your trusted partner, navigating the complexities of SMSF regulations, streamlining administration, and optimising your returns. However, choosing the wrong accountant can lead to wasted time, resources, and potential penalties. This […]
READ MOREHow to measure KPIs in your business
What are Key Performance Indicators (KPIs)? Key Performance Indicators (KPIs) are quantifiable metrics used to evaluate the success of an organisation in achieving its objectives. These metrics are tailored to specific goals and objectives and help businesses gauge their progress towards reaching these targets. KPIs provide valuable insights into various aspects of business performance, such […]
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