Michael WFS
@MichaelWFSAcc
"Michael | Accountant with 18 years' experience | Owner of Wholistic Financial Solutions | Helping small businesses simplify compliance & grow."
One thing I've learned from running a business: there’s never a “quiet” year. Every January, I catch myself thinking this will be the year everything runs smoothly—no surprises, no big changes. But the reality? Business doesn’t work like that. And, honestly, that’s a good thing.…
The quickest way to update your personal contact details with us is online. (Tip: your myGov account will need to be linked to our online services). There are three ways to update your contact details online...
💡 Thinking of selling a rental property? Here's a tax-saving tip you can’t afford to ignore! Today, I saw firsthand how good record-keeping pays off. A client sold a property bought in the '90s and had kept every receipt and expense doc along the way. The result? Thousands…
A good unanimous full court decision here on Div 7A loans where the court held that an unpaid present entitlement (UPE) owed by a trustee to a corporate beneficiary did not constitute a “loan”, nor a deemed dividend, under Division 7A. accountantsdaily.com.au/tax-compliance…
Australians worked hard for this rate cut and they deserve this rate cut.
📢 RBA cuts cash rate to 4.1%! What does this mean for borrowers? 🏡💰 ✅ Big 4 banks passing on the cut ✅ Takes 10-14 days to apply ✅ Repayments may not drop automatically—you may need to contact your bank! ✅ Keeping higher repayments can save $$ in interest Want to optimise…
BREAKING: Westpac, NAB, CBA and ANZ have all announced a 25 basis point cut to mortgage rates, just minutes after the RBA moved the cash rate lower. afr.com/companies/fina…
afr.com
Major banks move quickly to pass on cut in full
Westpac, NAB, CBA and ANZ have all announced a 25-basis-point cut to their mortgage rates, just minutes after the central bank moved the cash rate lower.
Thinking about setting up a Self-Managed Super Fund (SMSF) in Australia? Here are the key steps to consider: 🏦✅ 1️⃣ Understand the Risks & Benefits – Know the costs, responsibilities & risks involved. 2️⃣ Choose a Trustee Structure – Individual or Corporate Trustee? Each has…
If you have multiple jobs, remember to only claim the tax-free threshold from one employer (usually your main/highest paying role). This simple step helps avoid a surprise tax bill later. Not sure about your situation? Your accountant can help you get it right. 💡 ✨ Pro tip:…
If you've got more than one employer, claim the tax-free threshold from the payer who pays you the highest salary or wage. They'll only withhold tax when your income is over $18,200.
It just got easier to get a home loan, even if you have a HECS debt. Here's why afr.com/policy/economy…
As an Accountant who's seen the costly fallout: Proper documentation isn't optional! Your company decisions need valid resolutions under Corps Act. Missing notices, quorum & records can void everything. Don't learn this the expensive way - get it right first time! 📊 #CorpGov
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