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The assault on professional services

By WSC Group | Created on April 10, 2024

The ATO has signalled that it is willing to pursue professional services firms who divert profits to avoid tax.

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Warning on SMSF asset valuations

By WSC Group | Created on April 10, 2024

The ATO has issued a warning to trustees of SMSFs about sloppy valuation practices.

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How much is my business worth?

By WSC Group | Created on April 10, 2024

For many small business owners, their business is their largest asset and for many, one that is expected to help fund their retirement.

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Non-compete clauses and worker restraints under review

By WSC Group | Created on April 10, 2024

A new issues paper from Treasury’s Competition Review questions whether non-competes and other restraints are limiting job opportunities and movement.

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Budget 2024-25

By WSC Group | Created on April 10, 2024

The 2024-25 Federal Budget is the third for the Albanese Government and consistent with previous years, the primary themes are expected to be the cost of living and the economic shift to net zero.

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The Fringe Benefit Tax traps

By WSCAdmin | Created on March 8, 2024

The Fringe Benefits Tax year (FBT) ends on 31 March. We explore the problem areas likely to attract the ATO’s attention.

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Getting back what you put in: Loans to get a business started

By WSCAdmin | Created on March 8, 2024

It’s not uncommon for business owners to pour their money into a business to get it up and running and to sustain it until it can survive on its own.

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How to take advantage of the 1 July super cap increase

By WSCAdmin | Created on March 8, 2024

From 1 July 2024, the amount you can contribute to super will increase. We show you how to take advantage of the change.

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The ATO Debt Dilemma

By WSCAdmin | Created on March 8, 2024

Late last year, thousands of taxpayers and their agents were advised by the Australian Taxation Office (ATO) that they had an outstanding historical tax debt.

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Revised stage 3 tax cuts confirmed for 1 July

By WSCAdmin | Created on March 8, 2024

The revised stage 3 tax cuts have passed Parliament and will come into effect on 1 July 2024.

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