An essential part of your business
Regular touch points.
Valuable strategic advice & support.
Accounting services tailored for Insurance Underwriters, Insurance Brokers and Financial Services businesses
Let us help you streamline your business, save on taxes, and plan for a financially secure future.
At WLM Accounting, we specialise in providing tailored tax and accounting services designed for the insurance and financial services industry, and acted for the Underwriting Agencies Council (UAC) since 2013.
The regulatory environment for AFSL Holders and Insurance intermediaries is the most complex and rigorous faced by any Australian business. Our depth of experience in the industry allows us to deliver efficient and accurate services that keep your business compliant.
When you choose WLM, you’ll gain a dedicated partner who understands you and your business and provides specialised tax and accounting services that lighten the compliance load, boost operational capacity, and pave the way for your future goals.
AFSL Compliance Support
Navigating AFSL requirements can feel like a maze. It’s not just a task, it’s a commitment – one that could lead to penalties or even license revocation if mismanaged. That’s where we step in. Our team of qualified accountants are experts in navigating the complex regulatory landscape surrounding Australian Financial Services Licences (AFSL). We offer a full range of accounting services, specifically designed for companies with an AFSL. We also assist with your annual AFSL audit.
Employee Share Schemes
Employee Share Schemes (ESS) can play a crucial role in attracting talent and enhance employee engagement and loyalty within the sector. Approaches to ESS differ in structure, tax treatment and the associated risks for employees and employers. We can help you weigh up the pros and cons to these approaches, and implement effective schemes that align with your business goals.
GST
Insurance intermediaries are required by the ATO to take on the additional administration of collecting, reporting and remitting the GST on insurance premiums. WLM can ensure you get this reporting right when lodging your Business Activity Statements.
Stamp Duty and Levies Reporting
As a full service provider we also assist our insurance clients to report and pay duties and levies to each state authority. If you’re just starting we can also set-up registrations for each state you intend to operate in.
Payroll and FBT
FBT is an unavoidable tax in an industry that values client relationships and keeping staff happy with various employee benefits.
WLM are experts at guiding your business on the FBT implications of your marketing and staff activities and benefits and ensure the tax associated with this is minimised.
We also provide the full range of payroll services required to keep your staff happy by being paid on time with full access to their own payroll portal.
Foreign Ownership Compliance
If your business is foreign owned, this can create additional audit and reporting requirements to ASIC, including General Purpose or Tier 2 financial statements and annual audits. Some foreign owned businesses may be eligible for an audit exemption which can save your business time and money.
In addition, to satisfy ATO compliance requirements you may need to lodge annual Country-By-Country (CBC) reporting. The ATO will also want to ensure that transfer pricing rules have been considered for any charges between the Australian entity and its foreign related entities.
WLM can help your business to navigate through these complexities of being foreign owned.
Business sales and exit planning
As you set your sights on the future, we’re here to back your dreams, whether that’s revenue growth or a smooth exit strategy. We team up with you to create plans that boost your profits and set you up for a smooth changeover. We know the ins and outs of the industry, and we leverage that to spot the best methods for upping your business value and catching the eye of potential buyers.
Your onboarding process
Here's quick outline of the steps you need to take to complete your onboarding with us. We want you to feel you're in great hands - so leave the rest to us!
Sign your engagement letter
You’ll receive an email from us to digitally sign your engagement letter.
Log into your client portal
Look out for a welcome email from us with a link to your new client portal (Karbon).
Complete your onboarding tasks
A checklist of tasks will be available within your client portal to action. For example: providing your previous accountant’s details.
Send Ethical letter to previous accountant
This is required by the ethical standards of CAANZ to notify your previous accountant that WLM has been requested to act as your accountant. We can also request any required documents from them.
Verify your ID and Tax Agent linking
We will arrange a meeting with you where we will verify your ID and assist with nominating us as your tax agent through the Tax Agent Portal.
Client request checklist
If relevant, your client portal will be updated with additional information needed that could not be provided by your previous accountant.
You're ready to go!
With your onboarding complete we can now get started. You’ll continue to receive any requests for documents or information via your client portal.
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Here’s what people are saying
Dan and Daniel have fantastic knowledge of the insurance industry. They know their stuff and I’ve really appreciated that they explain things to me in plain english. Couldn’t recommend them more if you’re in the insurance underwriting space.
I’ve had an excellent experience working with WLM. Their team has been professional, responsive, and extremely knowledgeable from day one. They provide clear, practical advice and take the time to explain things in a way that’s easy to understand, which gives me real confidence in my financial decisions.
They have helped me with ongoing accounting and tax matters and have been particularly helpful in navigating more complex situations efficiently and accurately. Communication is always prompt, and the team is approachable and supportive, making the whole process stress-free.
What I appreciate most is their attention to detail, reliability, and genuine interest in achieving the best outcomes for their clients. I would highly recommend WLM to anyone looking for a trustworthy and proactive accounting firm.
For over 30 years, we have engaged WLM for a comprehensive range of accounting services, and the quality of their advice and support has been consistently outstanding. Throughout this time, WLM has assisted us in navigating several complex and sensitive financial matters with clarity, diligence, and professionalism. Our interactions with the WLM team have always been exemplary. Their responsiveness, depth of expertise, and commitment to delivering tailored guidance are qualities we value highly. We particularly appreciate their meticulous approach and the confidence they provide in managing our accounting affairs.
I have been working with Amanda Rogers and the team at WLM across my business accounting, including BAS review and preparation, restructuring support, and ongoing tax planning, and I could not speak more highly of their expertise. Their advice is proactive, forward-thinking, and gives me the confidence to plan in advance. The service is fast, supportive, and genuinely helpful. Amanda is exceptional to deal with, knowledgeable, personable, and deeply committed to achieving the best outcomes for her clients. I Highly recommend Amanda and WLM for anyone wanting smart, strategic Accounting advise with outstanding service.
WLM Accounting have been invaluable in assisting our small medical practice with our accounting and tax needs in particular their advice in relation to payroll and tax issues medical practices face. WLM have been crucial and restructuring our business and streamlining are processes particularly with their help in implementing Xero and single touch payroll – Quynh Vu, Prince Henry Medical
We have been long-term clients of Amanda Rogers and her team at WLM. We have been extremely happy with the services provided and the advice received. WLM have looked after our personal, family trust and superannuation affairs efficiently and effectively. We have benefited from excellent taxation advise including real estate investment, (negative gearing, land tax, property ownership, capital gains, depreciation etc), equities (Australian, overseas, corporate share options, CGT etc) superannuation (SASS and SMSF). We have no hesitation in recommending WLM for these services.
Playtika is a global gaming company with a complex corporate structure; we have offices all around the world, and players in every continent. WLM Accounting has been instrumental, working with Playtika to establish its entity in Australia over the past 4 years, helping us to overcome accounting challenges with ease. WLM is there for us with a positive, personal, and helpful attitude.
Legal Notices
WLM Website Information
The information contained in the WLM website has been prepared from a wide variety of sources, which WLM, to the best of its knowledge and belief, considers accurate. WLM does not, however, warrant the accuracy of the information and forecasts possibly contained in the WLM website. No visitor to the site should rely upon the information and/or recommendations contained in the WLM website.
WLM strongly recommends that you make your own inquiries and seek professional advice before acting on any of the information contained in the WLM website. Should you wish to seek advice, please feel welcome to contact us.
The information is current only at the time it is placed on the website. WLM is under no obligation to update the information or correct any inaccuracy which may become apparent at a later time.
The information on this website is general in nature. It does not take into account your particular objectives, financial situation or needs, and should not be relied on as tax, accounting or financial advice. You should obtain advice specific to your circumstances before acting on any of it.
Our Services and Financial Advice
WLM provides accounting, taxation and business advisory services. We are not licensed to provide financial product advice and do not provide advice on financial products such as investments, superannuation, insurance or securities. Where you need advice of this kind, we will refer you to an appropriately licensed financial adviser. Nothing on this website should be taken as a recommendation to acquire, hold or dispose of any financial product.
Registered Tax Agent
WLM Financial Services Pty Ltd is a Registered Tax Agent (Tax Agent Number: 78329002). You can verify our registration on the Tax Practitioners Board (TPB) public register at www.tpb.gov.au/public-register. As a registered tax agent, we are subject to the Tax Agent Services Act 2009 and the Code of Professional Conduct administered by the TPB.
Copyright and Trademarks
WLM grants permission to reproduce hard copies of the information for personal use only. Unless an article is sourced, or it is expressly stated to the contrary, WLM owns copyright on all information.
All trademarks, logos and brand names displayed on this website are the property of WLM or their respective owners, and may not be used without permission.
Jurisdiction and Governing Law
The information contained in this site is for Australian residents only. This website and these terms are governed by the laws of New South Wales, Australia.
Privacy and Security
We take the privacy and security of your personal information seriously and handle it in accordance with the Privacy Act 1988 (Cth) and the Australian Privacy Principles.
This website uses cookies and similar tracking technologies, including through HubSpot, to understand how visitors use the site and to improve your experience. You can manage cookies through your browser settings.
When you complete a form, subscribe, or send us a message, we collect personal information such as your name and email address, along with any details you provide. This information is stored in our customer relationship management system (HubSpot) and is used only for the purpose for which you provided it. We will not add you to a mailing list or use your information for another purpose without your consent.
If a data breach occurs that is likely to result in serious harm, we will respond in line with the Notifiable Data Breaches scheme.
For full details of how we collect, use, store and disclose personal information, see our Privacy Policy.
Third Party Site Links
This website links to third party sites. Please be aware that WLM is in no way responsible for the privacy or security practices on these sites. They are not covered by the policy set out here, and should instead have their own Privacy and Security Policy contained on their site, which we encourage you to read.
WLM Financial Services Pty Ltd
Liability limited by a scheme approved under Professional Standards Legislation. This scheme applies through our membership of Chartered Accountants Australia and New Zealand (CA ANZ).
If you have any further questions about the services WLM Financial Services Pty Ltd provides, please call us on 02 9221 7777.
Complaints
If you have a complaint about the service we have provided, please:
- Raise it with your usual WLM contact or a Director. We will work with you to resolve it, and you are welcome to put your complaint in writing to the Board of Directors, WLM Financial Services Pty Ltd.
- If you are not satisfied with the outcome, you can also raise your complaint with:
- For tax agent services: the Tax Practitioners Board, using the online complaints form at www.tpb.gov.au/complaints.
- For professional conduct: Chartered Accountants Australia and New Zealand (CA ANZ).
- For privacy or a data breach: see our Privacy Policy, or the Office of the Australian Information Commissioner (OAIC).