Walker Wayland NSW – 2016 City To Surf
The 14th of August hosts the annual City to Surf fun run in a bid to raise money for charities. Walker Wayland will again be entering a team for the event and have 19 eager participants ready to raise money for our selected charity ‘Beyond Blue’. This is a charity close to many of our hearts and we hope to raise $3,000 to be put towards depression awareness. We are nearly half way to our donation target and need your help to keep up the awareness.
NSW State Budget
On 21 June 2016 the State Government delivered the New South Wales (NSW) budget results for the 2015-16 year.
ATO extends SuperStream deadline
With less than a week until the 30 June SuperStream compliance deadline, the Australian Taxation Office (ATO) has announced it will extend the deadline to small businesses until 28 October 2016.
NSW state budget – Changes to duties
Abolition of duty
From 1 July 2016 stamp duty has been abolished on the transfer of business assets in New South Wales.
Year End Tax Planning Opportunities
The 2015/16 year is almost at an end, presenting a perfect time to consider any tax planning opportunities that may be relevant to your business, including the following.
Abolition of NSW Stamp Duty on the transfer of business assets and marketable securities
From 1 July 2016, the following transactions will no longer be subject to stamp duty:
1. Transfer of marketable securities; and
2. Transfer of business assets.
Federal Budget 2016-17
There has been a different flavour to the speculation around this year’s Budget. While election year budgets are often chock full of juicy promises, a certain new spice has been added to this one due to its very close proximity to a double dissolution poll being officially called.
An interesting balancing act was foreseen between the promises of the Prime Minister Malcolm Turnbull and Treasurer Scott Morrison that this Government will “live within its means”, and the need to provide their Party with a launch pad for a marathon election campaign.
Expectations were high – or low depending on your viewpoint – for a distinct lack of expensive promises from a Government keen to prove it can responsibly manage the economy, and for the terms “jobs and growth” to feature prominently.
Walker Wayland is proud to announce new appointments.
Walker Wayland – Sydney is proud to announce a significant change to the structure of its business.
From February 2016, the business will introduce a role of Principal which will be incorporated within the management and leadership structure of the Walker Wayland – Sydney group. The Principals will provide ongoing support to the Partner Group within the organisational structure to manage designated business units and lead specific business opportunities.
We are pleased to announce the first appointments to the role of Principals: Wali Aziz, Ian Hillsdon and Cameron Stone.
These individuals have provided significant support to Walker Wayland – Sydney over a number of years. Their appointment is in recognition of the services they have provided in the development of the business to-date and to the vision and skills which they offer for the future of the organisation.
ATO attempt to close a contributions loophole
Integrity measures in the form of contribution caps are limits on how much a member can contribute to an SMSF. They are intended to limit the amount of tax benefits anyone can get out of using a SMSF.
Prior to 2007 the Reasonable Benefit Limits (“RBLs”) enabled a member to put as much into a SMSF as they wanted although not all of it would be tax-deductible. If the member took out more than was considered reasonable, they paid extra tax. From 2007, the tax system reverted to placing limits on the amount that could be contributed to a SMSF.
Vale Guy Grinham
It is with deep sadness that we acknowledge the recent passing of our former colleague Guy Grinham. Guy was a valued team member of…