Specialist Accountants and Advisors focused on supporting medical and health care professionals.
Walsh Health
Here at Walsh Accountants, we have created a niche team of specialist Accountants and Advisors focused on supporting medical and health care professionals.
We call this team Walsh Health and it’s their responsibility to ensure our clients in all medical fields and industries receive the specialist care and attention they need and deserve – reminiscent of the level or care and attention they provide to their own patients.
Based on over 45 years’ experience, we understand the unique challenges faced by medical and health care professionals. You can be sure that our team has the knowledge and expertise to help you manage your business and financial affairs.
Whether you are contracting your services, starting a new practice, or operating a well-established practice, we can assist you. With specialist tax, accounting, and business advice we ensure you operate under the optimum structure to help you accumulate wealth in the most protected and tax effective manner.
For those operating a practice, we can assist you to develop a plan to grow your business, provide advice on how to operate more efficiently and profitably, ensure you are prepared for succession or sale of your business and minimise your tax through a structured tax planning process allowing you understand your future tax commitments.
We understand the time and effort you have spent to build your career so our goal is to let you focus on your specialty and be confident knowing in collaboration with Walsh Health, all of your financial affairs and business matters will be taken care of and that you have a team supporting you to optimise your financial position and your business health.
So whether you are a Surgeon or Medical Specialist, GP, Physiotherapist, Dentist, Chiropractor, Chemist, Veterinarian, or work in any other medical industry/field, Walsh can assist you to find precious time and freedom to enjoy the more important things in your life.
Let Walsh Accountants be your Specialist.
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News from this team
Hospitality and Tourism, Women in Business, Corporate and International Tax, Making your Numbers Talk, Business Growth Resources, Business & Entrepreneurial Support, Walsh Property, Focus Advisory, Walsh Health
In today’s dynamic business landscape, understanding the intricate relationship between profit, cash flow, and overall business value is paramount. While many business owners can decipher profit and loss statements, the gap between profit and cash flow often remains a mystery. This article serves as a guide for business owners seeking to harness the power of […]
Hospitality and Tourism, Women in Business, Making your Numbers Talk, Business Growth Resources, News, Business & Entrepreneurial Support, Walsh Property, Walsh Health
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 […]
Walsh Health, Hospitality and Tourism, Women in Business, News, Business & Entrepreneurial Support, Walsh Property, Focus Advisory
Stay ahead of the competition in today’s dynamic business landscape by gaining a comprehensive understanding of industry trends, performance benchmarks, and best practices. Our Industry Benchmarking Report empowers you to assess your business against the industry standard, providing a clear picture of where you stand. What will you discover with our Industry Benchmark report? Discover […]
Focus Advisory, Walsh Health, Hospitality and Tourism, Women in Business, News, Complex Individuals, Business & Entrepreneurial Support, Walsh Property
In the dynamic landscape of business, owners frequently face challenges that require them to adapt and evolve. It is crucial to recognise the trigger points that indicate the need for a review of the business structure, and to be proactive in seeking professional guidance. By engaging in such discussions, business owners can understand the potential […]
Focus Advisory, Walsh Health, Hospitality and Tourism, Women in Business, News, Complex Individuals, Business & Entrepreneurial Support, Walsh Property
Let’s be honest, no one enjoys paying tax – and you should never pay more than you have to. This is why smart tax planning strategies are so important! As we approach the end of another tax year, it’s time to take a proactive approach to managing your taxes. In this article we will share […]
Hospitality and Tourism, Women in Business, News, Business & Entrepreneurial Support, Walsh Property, Walsh Health
Treasurer Jim Chalmers delivered his second budget for the Labor Government. The Treasurer’s second budget since Labor took office, it is heavily targeted at addressing the rising cost of living and boosting welfare, all while still aiming for balance, trying to avoid contributing to inflationary pressures, and to continue to foster economic growth and a […]
Hospitality and Tourism, Women in Business, News, Business & Entrepreneurial Support, Focus Advisory, Walsh Health
As a business owner, you must assess whether you are obligated to report FBT for your employees. FBT, or Fringe Benefits Tax, is a tax that is levied on non-cash benefits that employers provide to their employees in addition to their salary or wages. We have received notice from the ATO they are beginning to […]
Hospitality and Tourism, Women in Business, Making your Numbers Talk, News, Business & Entrepreneurial Support, Walsh Property, Walsh Health
In today’s fast-paced business environment, business owners are constantly seeking ways to optimise their operations, reduce their operating costs, and maximise their profits. While profitability is undoubtedly an important metric, it is not the only one that matters. As businesses navigate increasingly complex supply chains, rising costs, and ongoing financial stress and pressure, now more […]
Walsh Health, Hospitality and Tourism, Women in Business, News, Business & Entrepreneurial Support, Walsh Property, Focus Advisory
With the instant asset write off scheme set to expire on 30 June 2023, business owners have very little time left to purchase assets to claim the full deduction this financial year. What is the instant asset write-off? The instant asset write-off is a tax deduction that allows businesses to claim an immediate deduction for the […]
Walsh Health, Hospitality and Tourism, Women in Business, News, Business & Entrepreneurial Support, Walsh Property, Focus Advisory
At Walsh Accountants, our team are committed to elevating your understanding of numbers to help you manage and grow your business. Use these 8 practical accounting tips to run your business seamlessly. 8 top tips to understand and connect with your numbers Using reporting tools (such as Xero, MYOB, etc. or Business Insights and Dashboard reporting […]
Walsh Health, Hospitality and Tourism, Women in Business, News, Business & Entrepreneurial Support, Walsh Property, Focus Advisory
Now is the perfect time to set goals for your business to make 2023 your most successful year yet! Having clear goals set for yourself and your business provides a sense of direction, motivation, and a clear focus on what you are trying to achieve for the year ahead. In this checklist you will find: […]
Focus Advisory, Walsh Health, Hospitality and Tourism, Women in Business, News, Complex Individuals, Business & Entrepreneurial Support, Walsh Property
Thanks to new amendments and legislation passed in October 2022, Queensland small businesses looking to restructure by transferring assets from a sole trader, partnership or discretionary trust structure to a company structure can continue to access either a full or partial duty exemption on the transfer. This makes business restructures not so taxing on business […]
Hospitality and Tourism, Government Grants, Women in Business, News, Business & Entrepreneurial Support, Walsh Property, Walsh Health
The Queensland Government Business Basics Grants Program is opening for round 4. The Business Basics grants program provides support to businesses to increase core skills and adopt best practice. Your business may be eligible to receive a single up-front fixed grant payment of $5,000 (excluding GST). This support includes funded activities in 5 priorities: Training and coaching (business development, marketing, […]
Walsh Health, Hospitality and Tourism, Women in Business, News, Business & Entrepreneurial Support, Walsh Property, Focus Advisory
The RBA has lifted the cash rate over consecutive months. That leaves us to ask a very important question – How high will interest rates go? Earlier, Reserve Bank Governor Philip Lowe told the Australian Strategic Business Forum that “…we’re going through a process now of steadily increasing interest rates, and there’s more of that […]
Walsh Property, Focus Advisory, Walsh Health, Hospitality and Tourism, Women in Business, News, SMSF Division, Complex Individuals, Business & Entrepreneurial Support
If you’re a company director, you must apply for your Director Identification Number (director ID) before 30th November 2022. What is a director ID? The director ID is a unique 15-digit identifier that directors apply for once and keep forever. It is aimed at preventing the use of false or fraudulent director identities. As a […]
Walsh Property, Focus Advisory, Walsh Health, Hospitality and Tourism, Women in Business, News, Complex Individuals, Business & Entrepreneurial Support, Business Purchase Specialists
To protect personal assets, it’s important that business owners operate and structure deliberately, and in a way to remove asset ownership from ‘at risk’ individuals. Why? Because everyone in business is carrying a level of risk as things can, and often do go wrong. There are a number of options that can be taken to […]
Hospitality and Tourism, Women in Business, News, Business & Entrepreneurial Support, Walsh Property, Walsh Health
Small and medium business can now take advantage of a 120% deduction on skills training and technology costs. The 2022-23 Budget proposed a 120% tax deduction for expenditure by small and medium businesses on technology, or skills and training for their staff. This proposal has now been adopted by the current government and details released […]
Walsh Health, Hospitality and Tourism, Women in Business, News, Business & Entrepreneurial Support, Walsh Property, Focus Advisory
With the 2022 tax season in full swing, the Australian Taxation Office (ATO) has revealed its top four tax time targets – these are the areas of focus this tax season where people tend to make the biggest mistakes. These are: record keeping work related expenses rental property income and deductions, and capital gains from […]
Focus Advisory, Walsh Health, Hospitality and Tourism, Research and Development and Innovation, COVID-19, Women in Business, Corporate and International Tax, News, Complex Individuals, Business & Entrepreneurial Support, Walsh Property
After easing off on its debt collection activities during the height of the COVID-19 pandemic, the Australian Taxation Office (ATO) is now ramping up debt collection, actively pursuing the recovery of billions of dollars in outstanding tax liabilities. As a key part of the recovery program, the ATO has been writing to individuals and businesses […]
The ATO has announced the next phase of changes to Single Touch Payroll (STP). Single Touch Payroll (STP) Phase 2 will reduce the reporting burden for employers who need to report information about their employees to multiple government agencies. It will also help Services Australia’s customers, who may be your employees, get the right payment […]
Focus Advisory, Walsh Health, Hospitality and Tourism, Women in Business, News, Complex Individuals, Business & Entrepreneurial Support, Walsh Property
You have a Div 7a loan, but you’re confused as to how, why, and what to do from here. In this this article we attempt to demystify Div 7A loans and explain everything you need to know. What is Div 7A? Division 7A prevents private companies from making tax-free distributions of profits to shareholders or […]
Hospitality and Tourism, Women in Business, News, Business & Entrepreneurial Support, Focus Advisory, Walsh Health
A series of reforms and changes will commence on 1 July 2022. Here’s what is coming up and how it will affect your business. 1 July 2022 changes for business Superannuation Guarantee increase to 10.5% The Superannuation Guarantee (SG) rate will rise from 10% to 10.5% on 1 July 2022 and will continue to increase […]
Concerns are growing for medical and allied health practices over exposure to payroll tax obligations following the NCAT decision in the Thomas & Naaz Pty Ltd case. This ruling has set alarm bells ringing for many practice owners worrying that the structure of their service agreements will leave them exposed and liable to pay a […]
Walsh Property, Focus Advisory, Walsh Health, Business Sales Specialists, Hospitality and Tourism, Women in Business, News, Complex Individuals, Business & Entrepreneurial Support, Business Purchase Specialists
Temporary immediate full expensing of assets means businesses can immediately deduct the purchase cost of eligible new and second-hand* assets. Is your business eligible to immediately deduct assets? Businesses that are eligible need to have an aggregated turnover of less than $5 billion. For businesses with an aggregated turnover of less than $50 million, temporary […]
Hospitality and Tourism, Women in Business, Corporate and International Tax, News, Complex Individuals, Business & Entrepreneurial Support, Walsh Health
A bucket company can help you save tax. Set up as a beneficiary to a trust, the term ‘bucket’ is used because the company sits below your trust and is used to pour money into to reduce tax. This allows you to cap your tax payable at a corporate tax rate. We want you to […]
Hospitality and Tourism, Women in Business, Making your Numbers Talk, Business Growth Resources, Business & Entrepreneurial Support, Walsh Property, Focus Advisory, Walsh Health
Understanding the Significance of Cost of Sales or Cost of Goods Sold (COGS). Cost of Sales (also referred to as Cost of Goods Sold [COGS]) is a very important financial performance metric, as it tracks your ability to manufacture/deliver goods and services at a reasonable cost. It represents the direct costs related to the manufacturing […]
Walsh Health, Women in Business, Corporate and International Tax, News, Complex Individuals, Business & Entrepreneurial Support, Focus Advisory
The ATO has updated guidance for trust distributions made to adult children, corporate beneficiaries and entities with losses. Depending on how arrangements are structured, there is potential for significant level of risk. Released in February 2022, the updated guidance directly targets how trusts distribute income. As a result of the ATO’s more aggressive approach, many […]
Hospitality and Tourism, COVID-19, Women in Business, News, Business & Entrepreneurial Support, Walsh Property, Walsh Health
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 […]
Walsh Health, Hospitality and Tourism, News, Business & Entrepreneurial Support, Walsh Property, Focus Advisory
Great news! The Queensland government has announced another grant available for Queensland businesses. The Business Boost grants program provides support to businesses to advance improvements in their efficiency and productivity. Your business may be eligible to receive a grant payment of up to $15,000 (excluding GST) to your proposed project. This support includes funded activities in 3 project areas: Future planning Specialised and automated software […]
Walsh Health, Hospitality and Tourism, News, Business & Entrepreneurial Support, Walsh Property, Focus Advisory
A quick google of ‘productivity’ will lead you to an overwhelming avalanche of tips, tricks, hacks, and methods. But what really works? What methods are tried and tested? What could you implement to improve your day to create some more time? In celebration of World Productivity Day recently (20 June) we spoke to Walsh Accountants’ […]
Business & Entrepreneurial Support, Business Purchase Specialists, Walsh Property, Focus Advisory, Walsh Health, Business Sales Specialists, Hospitality and Tourism, Research and Development and Innovation, Women in Business, News, SMSF Division, Complex Individuals, Estate Administration
The Federal Treasurer, Mr Josh Frydenberg, handed down the 2021–22 Federal Budget on 11 May 2021. This was possibly the most anticipated budget in history as the government outlines its plans for economic recovery post-COVID. THE BIG NUMBER: Good news is Australia has experienced a stronger than expected economic recovery from the COVID-19 recession. This […]
Walsh Property, Focus Advisory, Walsh Health, Business Sales Specialists, Hospitality and Tourism, Women in Business, Corporate and International Tax, News, Complex Individuals, Business & Entrepreneurial Support, Business Purchase Specialists
Tax Planning is the epitome of creative accounting. It gives your Accountant the chance to look at your financial position and take advantage of numerous strategies and initiatives available to you to minimise the amount of tax you have to pay. 2021 is a particularly exciting year because there are multiple federal government budget announcements […]
Walsh Property, Focus Advisory, Walsh Health, Business Sales Specialists, Hospitality and Tourism, Women in Business, News, Complex Individuals, Business & Entrepreneurial Support, Business Purchase Specialists
The minimum percentage employers are required to pay is set to increase with the next increase to 10% due on 1 July, 2021. The scheduled increase of the super guarantee rate from 9.5% to 10% on 1 July 2021 is still yet to be officially confirmed by the Federal Government, with Australian Treasurer Josh Frydenberg […]
Business Purchase Specialists, Walsh Property, Focus Advisory, Walsh Health, Business Sales Specialists, Hospitality and Tourism, Women in Business, News, SMSF Division, Complex Individuals, Business & Entrepreneurial Support
The carry-forward rules allow you to make extra concessional contributions – above the general concessional contributions cap ($25,000 per year). An unused cap amount occurs when the concessional contributions made in a financial year were less than your annual concessional contributions cap. This carry-forward arrangement means you can contribute funds up to the unused concessional […]
Walsh Property, Focus Advisory, Walsh Health, Business Sales Specialists, Hospitality and Tourism, Women in Business, News, Complex Individuals, Business & Entrepreneurial Support, Business Purchase Specialists
As part of the 2020–21 Budget, the government announced that it will provide support to businesses and encourage new investment through a loss carry back regime. Eligible corporate entities that previously had an income tax liability in a relevant year and have subsequently made taxable losses can claim a refundable tax offset up to the […]
Walsh Health, Hospitality and Tourism, COVID-19, Women in Business, News, Complex Individuals, Business & Entrepreneurial Support, Walsh Property
There are close to 40,000 Australian citizens and permanent residents registered with the Department of Foreign Affairs and Trade (DFAT) stranded overseas trying to return home to Australia. India and the UK have the most individuals registered to return home, followed by the US, the Philippines and Thailand. With so many expats heading back to […]
Focus Advisory, Walsh Health, Hospitality and Tourism, COVID-19, Women in Business, News, Complex Individuals, Business & Entrepreneurial Support, Walsh Property
On the 11th March, Prime Minister Scott Morrison announced a $1.2 billion stimulus package to support the domestic tourism sector with Australian travellers offered half-price flights to travel interstate. As part of its targeted support announcement, the Morrison government also announced an extension to and expansion of, its SME Loan Guarantee Scheme. Open to recipients […]
Business Purchase Specialists, Walsh Property, Focus Advisory, Walsh Health, Business Sales Specialists, Hospitality and Tourism, Research and Development and Innovation, Women in Business, News, Complex Individuals, Estate Administration, Business & Entrepreneurial Support
Identifying and embracing new ideas is a challenge for many businesses, especially those businesses who have not made this a key focus of their culture. This can be a major source of frustration for business leaders who realise that in order for the company to be as successful as it can be, it must be […]
Business Purchase Specialists, Walsh Property, Focus Advisory, Walsh Health, Business Sales Specialists, Hospitality and Tourism, Research and Development and Innovation, Women in Business, News, Complex Individuals, Estate Administration, Business & Entrepreneurial Support
One of the measures announced in the 2020-21 Budget was the temporary immediate expensing of depreciating assets. These rules allow businesses with an immediate deduction of 100 per cent of the cost of eligible depreciating assets. When is the eligibility period? The rules apply from budget night 6 October 2020 and will run through until 30 June […]
Business Purchase Specialists, Walsh Property, Focus Advisory, Walsh Health, Business Sales Specialists, Hospitality and Tourism, Research and Development and Innovation, Women in Business, News, SMSF Division, Complex Individuals, Business & Entrepreneurial Support
From 1 July 2021 the Transfer Balance Cap* (TBC) will increase by $100,000 from $1.6M to $1.7M. However, only members who have not yet commenced a pension will be eligible for the full increase with a new cap of $1.7M. If you have an already established pension, you will receive a proportional increase based on the unused […]
Business Purchase Specialists, Walsh Property, Focus Advisory, Walsh Health, Business Sales Specialists, Hospitality and Tourism, Research and Development and Innovation, Women in Business, News, Complex Individuals, Estate Administration, Business & Entrepreneurial Support
Many business owners become frustrated when their advisers don’t understand them or their business as well as they would expect. Whilst many business owner’s goals are similar, from an adviser’s perspective, there is such a wide variety of both long-term and short-term objectives that business owners have. Overlay these with the differences each business owner […]
Business & Entrepreneurial Support, Business Purchase Specialists, Walsh Property, Focus Advisory, Walsh Health, Show in Business in Australia, Business Sales Specialists, Hospitality and Tourism, Research and Development and Innovation, News, SMSF Division, Complex Individuals, Estate Administration
Treasurer, Josh Frydenberg has delivered the Coalition Government’s Federal Budget 2020-21. Rather than focusing on bringing the budget back to surplus which has been the case in previous years, this year it is focused on rebooting the economy and creating jobs. Taxation JobMaker Hiring Credit Economy 2020/21 Federal Budget Highlights Taxation The Morrison Government will […]
Jobkeeper is scheduled to end on the 30th September With government support programs due to end on the 30th September, business owners (and individuals) have 10 weeks to prepare themselves to survive without government financial assistance. Some industries have been hit harder; and will take longer to recover than others. No one truly knows what […]
The JobKeeper stimulus has been welcomed as an initiative to help businesses and their staff get through COVID-19 pandemic. As our previous articles outline, to qualify a business must have shown reduced turnover of at least 30% when compared to a particular test period More information refer to JobKeeper – What Business Owners Need to Know […]
Research and Development and Innovation, News, Business & Entrepreneurial Support, Focus Advisory, Walsh Health
RACGP Foundation and HCF Research Foundation are offering a Research Grant to General Practitioners for Impact of COVID-19 on General Practice. Purpose: Research to understand the impact of the COVID-19 pandemic on general practice. (e.g. the use of telehealth and telehealth item numbers and evaluation of COVID-19 clinics) Funding provided by RACGP Foundation and HCF […]
Protection from Superannuation Guarantee Charge for high income earners with multiple employees The government has introduced legislation which will prevent high income taxpayers with multiple employers from overpaying their superannuation contributions which results in an Excess Contributions Charge each year. This will be especially welcome for medical practitioners who often fall victim of this system. […]
Business Purchase Specialists, Walsh Property, Focus Advisory, Walsh Health, SMSF Division, Complex Individuals, Estate Administration, Business & Entrepreneurial Support
We are very honoured to announce that Walsh Accountants has won the 2018 Tax and Compliance firm of the Year for the SMSF & Accounting Awards. Shape We humbly accept this award and would like to take this opportunity to once again thank our clients for the nomination. We really appreciate your recognition of our work and […]
