Walters Accountants

09/07/2026

ATO Standard Tax Deduction Announcement: Available next year - 2027
The proposed $1,000 standard deduction is an optional flat deduction that taxpayers may choose to claim instead of itemising their actual work related expenses. Taxpayers can still choose to claim their actual expenses using receipts if this provides a better outcome.
We strongly recommend that you continue keeping all receipts, as this ensures you can choose the option that results in the greatest tax benefit. For many eligible taxpayers, actual work related expenses typically exceed $1,000, meaning itemising may still provide a larger refund.
Please remember: the $1,000 is not an amount you will receive as a refund or payment. It is a tax deduction, which reduces your taxable income rather than providing a direct cash benefit.

30/06/2026

New Pay Rates – Minimum Wage Increase

The National Minimum Wage and minimum award wages are increasing from 1 July 2026. This increase will apply from the first full pay period starting on or after this date.

You will need calculate and update the new rates for your employees. Updated wage information will be available on the Fair Work Ombudsman website from 1 July 2026.

Under the Fair Work Act 2009, it is essential to stay up to date with legislative changes to ensure full compliance. Failure to apply the correct rates may result in costly back payments and penalties.

Incorrectly meeting wage obligations, whether intentional or accidental, is considered wage theft, which may expose you to further investigation and enforcement action.

30/06/2026

Payday Super – Are you Ready?

Payday Super officially commences on 1 July 2026. It’s essential to ensure that your digital providers for payroll and clearing house can support both Single Touch Payroll (STP) and new payday superannuation reporting requirements.

If your current payroll platforms do not meet the required software capabilities, this must be addressed as soon as possible to ensure compliance from 1 July 2026.

15/05/2026

Thursday 21st May at 10.30am - We'd love you to come and enjoy a cuppa with us and help support cancer research.

07/04/2026

🚨 Reminder: The FBT year ended 31st March 2026 — are you ready?
Make sure you’ve gathered everything your accountant needs, including:
• Vehicles: logbooks + odometer readings
• Expense reimbursements: details of any private or entertainment expenses paid by the business
• Loans: documentation for any loans provided
• Benefits: costs of any non cash perks provided to employees or associates

And don’t forget — return your FBT declaration forms ASAP

11/12/2025

As the holiday season arrives, we would like to take this opportunity to thank all our valued clients and friends for your continued support during the year. We look forward to working with you in 2026.

12/03/2025

ATO Payment Plans - Individuals & Businesses
If you are struggling to pay your tax debt in full you may be eligible to set up a payment plan with the ATO to pay your debt by instalments over a period of time... Full details on our website: https://www.waltersaccountants.com.au/blog/setting-up-ato-payment-plans

04/11/2024

Our office will be closed for Melbourne Cup from 1.00 - 5.00pm Tuesday 5th November 2024.

09/07/2024

~ Notice of office closure for staff training and development ~ On Friday 12th July 2024 our office will be closed from 1pm - 5pm as we will be conducting our staff training and development.

21/06/2024

The ATO has made changes to the way that working from home deductions can be claimed by eligible taxpayers for the 2024 income year. See our website for details:

The ATO has made changes to the way that working from home deductions can be claimed by eligible taxpayers for the 2024 income year. If you have genuinely worke