Entries by Salisbury Accountants & Business Advisors

AMGC Project Funds

Advanced Manufacturing Growth Centre (AMGC)

Expressions of Interest invited

AMGC co-funds industry projects to commercialise innovation. In this way, approved projects demonstrate how to enhance Australia’s global competitiveness and set the direction for industry across the country.

AMGC’s pipeline of Core Projects and AMESRF projects is currently oversubscribed. As a result, they are not in […]

Business Resilience vision and goals

As accountants, we strive to help business owners build resilient and successful businesses

In the current business environment, there are both challenges and opportunities.

One component of resilience is to have a clear vision for the business. That means everyone should understand the business ‘destination’, the ‘why’ or the ‘rationale’ for the business. Without this, the […]

Key FY21 changes to note from 1 July

Business tax changes for a new financial year

NO TAX DEDUCTIONS IF YOU DON’T MEET YOUR TAX OBLIGATIONS

From 1 July 2019, if taxpayers don’t meet their PAYG withholding and reporting obligations to the ATO, they will not be able to claim a tax deduction for payments:

 of salary, wages, commissions, bonuses or allowances to […]

ATO allowances on late lodgement and penalties

Lodgement due date for all tax returns denied

An extension was requested in light of the extra COVID-19-related issues many business owners have worked through, including setting up employees for JobKeeper and accessing the government’s stimulus package.

However the ATO Deputy Commissioner replied: “We recognise and appreciate your efforts to help your clients meet their […]

$150,000 instant asset write-off extended

Asset investment write-off extension gives farmers and suppliers options

Farmers have applauded the federal government’s decision to extend its $150,000 instant asset investment write-off offer until December after many businesses highlighted the previous deadline was too short to make practical use of the incentive.

The instant investment depreciation write-off was initially announced in […]