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Specialising in Small Businesses and Community Organisations

At Walsh Accounting, it's not just a numbers game – it's about people. If you're in business, we want to be in business with you. Our success is seeing you succeed. If you have a problem, we love finding solutions. We take the time to build strong relationships with you from the very beginning and really understand your needs.

Contact us today to find out more about how we can help.

Walsh Accounting understands the importance of establishing a strong future for your family and community. With over 40 years of experience working together as a family, we know what it takes to start, grow and manage a family business. We love being part of our clients' business - sharing the workload and being a part of your success. 

We have been solving client problems since 1980

Your Business

We offer a wide range of services to help you set up, run and grow your business as effectively and as stress free as possible.

You and your family

Need help getting your family finances in order? Our specialist services include Taxation, SMSF services, estate planning plus many more.

Your community

Our team can assist your community organisation with their financial reporting and auditing needs. 

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please feel free to book an appointment with us.

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Walsh Accounting Blog

By Lionel Walsh December 3, 2025
Tradies Beware On 28 November 2025, the Australian Taxation Office released Practice Compliance Guideline PCG 2025/5. It is long and complicated, but here is a summary. This guideline sets out a tougher approach to common business structures used by tradies and contractors. The ATO will focus on situations where – · One person does all or most of the work · The income is earned mainly (more than 50%) because of that person’s skill or labour · The income is then split or re-directed to another person or entity (for example, a trust, company or family member) · The outcome is less tax payable The ATO refers to these as income splitting or income-diversion arrangements The ATO focus will be on · tradies operating through a company or trust · Arrangements where profits are paid to a family member with little involvement · Contactors working mainly for one client, but using a company or trust. The ATO has flagged higher risk arrangements where – · One person does most of the work · That person is not paid a reasonable wage for the work · Profits are distributed to someone else · The business has the characteristics of a sole trader operation, but with a company or trust added · There is no significant reason for the structure other than the tax saving The ATO is less concerned where – · The tradie pays employees or contractors to do a significant part of the work · The contractor (not another entity) is paid a commercial, market-rate salary or wage You are less likely to have an issue if – · You operate from business premises · You employ workers to perform part of the work · You engage contractors to perform part of the work · You are paid a contract rate rather than an hourly or daily rate · You are responsible for remedying defects · You advertise and have several customers as a result of advertising. · You operate major equipment such as a grader. None of this is new law. The ATO is simply forewarning that it will be taking a tough new approach to these arrangements. Walsh Accounting can offer an opinion on whether your arrangement is high, medium or low risk.
By Lionel Walsh November 18, 2025
Personal Services Income (PSI) The Australian Taxation Office (ATO) introduced Personal Services Income (PSI) rules to restrict individuals from diverting income through companies, partnerships or trusts to gain tax advantages from strategies such as income splitting, accessing business deductions or lower tax rates. The core issue is whether you are earning money as a business or from personal services (similar to wages). You have personal services income if more than 50% of your income in a contract comes from your own personal skills, labour or services. If you do have personal services income, it is not quite the end of the world. You might be able to retain the taxation benefits if you can pass the 80% test and one of the following four tests: Results Test  You pass the results test if ALL the following apply · You are contracted to deliver a result, such as building a shed, rather than being paid for hours worked · You provide all the plant, equipment and tools needed. · You are responsible for rectifying any defects in your work (at your own cost) Unrelated Clients Test · You must have received PSI income from two or more unrelated clients and there must be a direct connection between the offer to the public and · you being engaged to perform the work Employment Test To pass the employment test, you must meet one of the following conditions · at least 20% of the principal work must be performed by others · One or more apprentices must be employed for at least six months of the year Business Premises Test You pass the business premises test if at all times in the income year you maintained and used a business premises which meets all the following conditions. It must be · used mainly to gain PSI · used exclusively by you · physically separate from your private premises · physically separate from your clients’ premises For the unrelated clients test, the business premises test and the employment test, you first have to meet an 80% test. If 80% or more of your personal services income is derived from one client (and associates) you cannot self-assess anymore. If you still believe that you can pass one of the tests, you must apply to the ATO for a Personal Services Business (PSB) determination. If you pass the 80% test, you can self-assess the Unrelated Clients Test, the Employment Test and the Business Premises Test. Of course, this is no guarantee that the ATO, on audit, will reach the same conclusion as you. If you are an individual with an ABN and you are thinking about income-splitting with your spouse or operating through a company, partnership or trust, please make sure you are not breaching any of the above rules. Otherwise, it might not end well.
By Jamie Walsh November 8, 2025
Why did Walsh Accounting open its doors on a Sunday? Walsh Accounting commenced business on 9 November 1980. It was not even Walsh Accounting at that stage. Here is Lionel’s story. I was Manager of the Barcaldine Hospitals Board in 1980. Marg and I had seven children aged from four to sixteen. Marg had to be a stay at home Mum which was, of course, a full-time job. For example, she had to wash between 90 and 100 items of clothing every day (I counted them). We were therefore a single income family and were nearing the stage when our children would have to go to University if they wanted to continue their studies. There did not seem to be any way that we would be able to pay the costs involved. Early in November 1980, out of the blue, Geoff rang me at the hospital office and asked me if I would like to buy his accounting practice. He also had another full-time job. His accounting practice was a side hustle which he had only started a few months beforehand, so it was very small. Geoff and his wife were leaving town. He wanted $1500 for the practice. Marg and I had a discussion. We agreed that this seemed like a good opportunity to earn extra income. Marg said that she could man the office on weekdays (in addition to her household duties) and I could take interviews and prepare financial statements and tax returns on weekends and in the evenings. We did not have $1500 so I went to the Commonwealth Bank and was granted a loan. We paid Geoff his $1500 and opened to clients on Sunday 9 November 1980. Why a Sunday? Because I was working at the hospital from Monday to Friday. We had to set up on Saturday so Sunday had to be our first day. I was not a registered Tax Agent, so I had to engage a Tax Agent in Brisbane to lodge the returns in his name. His name was Vic Hill and our first business name was A.V. Hill & Associates. Later it became Wilkes and Stewart (accountants in Emerald). Our office was on the top floor of the building now owned by Yachatdac (next to the Radio Theatre) It was difficult trying to look after the children at home while Marg was away from home all day and I was away from home evenings and weekends, so we decided to build an office in our front yard where we would be near the children. This made life somewhat easier. By 1986 we had both been working about 90 hours a week since 1980 and neither we nor the children had had a holiday for seven years. It was unsupportable. We made the decision to leave the Hospital and practice fulltime, which was a scary move as our accounting revenue was only $26,000 per year. I had a commerce degree but I needed more accounting qualifications and Tax Agent registration. I contacted CPA Australia for advice in November 1985 and was told that my last opportunity to gain the necessary qualifications quickly was to attend a full week course in Brisbane and pass an exam. If I missed that, the rules were changing and I would have to do two more years’ study. It was lucky that I inquired in 1985 when we were still thinking about our options. I did the course and successfully applied for Tax Agent registration. My last day working at Barcaldine Hospital was Friday, 4 July 1986. I missed it. I was called to the Department of Health in Brisbane to offer advice on medical services in the West. I was due to fly home in time for my farewell party but the planes were grounded because of fog so by the time I arrived home the party was over. The dirty dishes were still on the verandah. Thus ended one chapter of our lives (after 27 years). A new chapter was beginning.
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