The Second $66.1 bn Stimulus Package: What You Need To Know

The Government yesterday released a second, far reaching $66.1 bn stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides cash flow support of up to $100,000 for small business…

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WLM’s Response to Coronavirus COVID 19

The Coronavirus pandemic and the measures to slow its transmission are evolving rapidly. First priority is the safety and wellbeing of our employees, clients and the broader community. The following is a summary of WLM’s operating procedure…

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Coronavirus: State Government Tax Relief for SMEs

Three Australian State Governments have recently introduced a limited range of tax relief measures. The packages are intended to assist small-to-medium-sized businesses during the current period of economic downturn as a result of the Coron…

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The ATO is on the lookout for ‘lifestyle’ assets

The ATO is data matching with information from 30 insurers to support the profiling of selected taxpayers. They are targeting lifestyle assets that have not been disclosed in tax returns over the last five years.

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Increased scrutiny by the ATO to substantiate expense claims

In November 2019, a judgement was made in favour of the ATO by the Administrative Appeals Tribunal of Australia in the case of Reid and the Commissioner of Taxation. It reinforced the importance of ensuring that expense claims are substanti…

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