Where to start and what to expect? Here's what our process looks like.
We want you to feel you’re in great hands – so leave the rest to us!
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.
1
Scoping meeting
Our first meeting explores your situation, goals and resources.
We’ll explore any opportunities, and find out what you want and expect from us.
2
Your engagement letter
We’ll put together a proposal addressing your priorities with the services we recommend and our fees. Once agreed, you’ll receive an email from us to digitally sign your engagement letter.
3
Log into your client portal
Look out for a welcome email from us with a link to your new client portal (Karbon).
4
Complete your onboarding tasks
A checklist of tasks will be available within your client portal to action. For example: providing your accountant’s details, linking us as your tax agent online and nominating us as your ASIC agent.
Latest News
Here’s what people are saying
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 all prospective purchasers of securities should make their 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.
Employees or associates of WLM may hold investments reviewed in the WLM website. This should not be seen as a recommendation.
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.
Copyright
WLM grant 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.
Jurisdiction
The information contained in this site is for Australian residents only.
Privacy & Security
This site does not provide facilities for the secure transmission of information across the Internet, and as such does not retain or record any personal information of users. We will only record your e-mail address if you send us a message. Your e-mail address will only be used for the purpose for which you have provided it and it will not be added to a mailing list or used for any other purpose without your consent.
Click here for a full copy of our Privacy Policy.
Third Party Site Links
This website links to third party sites. Please be aware that WLM are 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 Limited
Liability limited by a scheme approved under Professional Standards Legislation.
WLM Financial Services Pty Limited holds an Australian Financial Services Licence(AFSL). This may be verified independantly through the Australian Securities and Investment Commission (ASIC) or you can contact us for a copy of our licence.
For reference we have attached a copy of our Financial Services Guide (FSG).
WLM Financial Services maintains a public register of any Alternative Forms of Remuneration that are received from product providers, for any form of remuneration received of $300 in value or more. Fund Managers, Platform Providers, Representatives and other AFS Licensees maintain similar registers. As a matter of note, WLM financial planners receive remuneration by means of salary and do not receive any additional commission or bonus from product providers.
This register is available for inspection on can be supplied within 7 days upon request. WLM also maintains a Conflict of Interest register.
Important Note: Not all people employed by WLM are authorised to provide advice under our AFSL so you should confirm that any advice received comes from an appropriately authorised person.
Complaints
If you have any complaint about the service provided to you, you should take the following steps:
- Contact a Director and tell them about your complaint.
- If your complaint is not satisfactorily resolved within 45 business days please contact our Complaints Officer, Stephen Buhlman, or put your complaint in writing and send it to the Board of Directors, WLM Financial Services Pty Ltd.
- If you still believe you do not have a satisfactory outcome, you have the right to complain to:
a. For complaints regarding Financial Planning Services:
Australian Financial Complaints Authority, by contacting:
GPO BOX 3
Melbourne VIC 3001
Phone: 1800 931 678Email: info@afca.org.au
b. For complaints about a registered tax practitioner:
Tax Practitioners Board, using the online complaints form:
https://www.tpb.gov.au/complaintsc. For complaints regarding Privacy or Data Breach, refer to our Privacy Policyd. Other professional bodies which may be relevant for the complaint, such as membership bodies.
If you have any further questions about the financial services WLM Financial Services Pty Ltd provides, please call us on 02 9221 7777.