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So far waterford has created 51 blog entries.

Hunter Region Medicare bulk-billing incentive changes effective 1 January 2020

The federal government has updated the classification system used to determine doctors' eligibility for rural Bulk Billing Incentives effective from January 2020. From January 2020, the bulk-billing incentive in outer metro areas will be reduced from $9.65 to $6.40 per patient, per visit. Areas that were once classified as rural but are now metropolitan will [...]

By | January 21st, 2020|General|0 Comments

Do you have a current workers compensation policy

Did you know it is compulsory for the majority of employers to have a workers compensation policy?  If you engage workers and pay total wages in excess of $7,500 per year, you should have a workers compensation policy in place. Workers Compensation defines workers as, but not limited to, full time, part time, casual and [...]

By | December 11th, 2019|General|0 Comments

Are you being paid correctly under your Service Entity Arrangement?

Service Entity arrangements are just one method of remuneration by Medical Practices to Medical Professionals. There are many other methods Medical Practices used to pay Doctors and the income tax and GST treatment is very different depending on the nature of the arrangement. A service entity arrangement between a Medical Professional and Service Trust is [...]

By | October 17th, 2019|General|0 Comments

Does your SMSF suffer from a lack of diversification

The investment strategies of Self-Managed Superannuation Funds (SMSFs) are under scrutiny with the Australian Taxation Office (ATO) contacting 17,700 trustees about the lack of asset diversity. The ATO is concerned that, “a lack of diversification or concentration risk, can expose the SMSF and its members to unnecessary risk if a significant investment fails.” This does [...]

By | September 25th, 2019|General|0 Comments

GST – Dental Prosthetists and Dental Technicians

The ATO has released a class ruling 2011/58 in relation to the GST payable on dental prosthetists and services provided by Dental Technicians to dentists. The supplies of dental services by a dental prosthetist to a patient is generally accepted in the dental profession as being necessary for the appropriate treatment of that patient and [...]

By | September 11th, 2019|General|0 Comments

Tax time: Are you in the ATO’s sights?

A consistent theme this tax time is overclaiming and under reporting. With the Australian Taxation Office (ATO) getting more and more sophisticated in its data matching approaches, taxpayers can expect greater scrutiny where their claims are more than what is expected. We take a look at the key issues for you, your business and your [...]

By | June 12th, 2019|General|0 Comments

What you can expect after the election

Headlines only explain so much. In this special update, we examine where the 2019-20 Federal Budget left us, and the pivotal policies from the ALP on tax, superannuation and business. There are no guarantees, however, that any policies or announcements not already legislated will come to fruition – that will depend on the Senate composition. [...]

By | May 16th, 2019|General|0 Comments

Budget 2019-20 – The Ballot Box Budget

This is a Budget not only designed to showcase the return to surplus (and by default the Government’s economic credentials) but engage voters with initiatives designed to make them feel like they are more prosperous. A massive infrastructure spend adds to this sentiment. The Government has also stated that it will keep taxes as a [...]

By | April 3rd, 2019|General|0 Comments

Legislation in limbo

A budget, an election and the legislation that hasn’t made it through. The February 2019 Parliamentary sitting days were the last opportunity before the Federal Budget for the Government to introduce or push through new legislation. Next month, on 2 April, Parliament reconvenes for the Federal Budget and it’s likely that an election will be [...]

By | March 28th, 2019|General|0 Comments

Single touch payroll extended to all employers

From 1 July 2019, single touch payroll – the direct reporting of salary and wages, PAYG withholding and superannuation contribution information to the ATO – will apply to all employers. What employers need to report will also be extended to include certain salary sacrificed amounts. Employers with 20 or more employees have been required to [...]

By | March 6th, 2019|General|0 Comments