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      Rental Property: Tax Approach Adjusts for COVID-19

      Rental Property: Tax Approach Adjusts for COVID-19

      The COVID-19 pandemic has placed property owners, and tenants in many cases, in unfamiliar territory. Many tenants have been paying reduced rent or ceased paying because their income has been adversely affected. While rental income may be reduced, owners will continue...
      NSW Discretionary Trust and Land Tax Surcharge

      NSW Discretionary Trust and Land Tax Surcharge

      In NSW, surcharge purchaser duty applies to acquisitions of NSW residential land by foreign persons, and surcharge land tax applies to foreign persons who are owners of residential land in NSW. Surcharge purchaser duty and surcharge land tax (together known as the...
      7 Alternative tests for JobKeeper payment

      7 Alternative tests for JobKeeper payment

      An alternative decline in turnover test for the JobKeeper payment scheme has now been registered by the ATO. The legislative instrument, Coronavirus Economic Response Package (Payments and Benefits) Alternative Decline in Turnover Test Rules 2020, says the...
      Early Release of Super – COVID-19

      Early Release of Super – COVID-19

      As a part of the safety net stimulus packages, the government announced that individuals that are adversely effected by coronavirus (COVID-19) can look to an early release of their Superannuation and  may be able to access up to $10,000 of their super before 30...
      JobKeeper Payment – No employees? no problem!

      JobKeeper Payment – No employees? no problem!

      The ATO has put out guidance on how sole traders and some other entities such as partnerships, trusts or companies may be entitled to the JobKeeper payment scheme. Entitlement may be possible for an “eligible business participant” (more below), according to the ATO....