Entries by Salisbury Accountants & Business Advisors

FBT and taxi travel

August 21, 2019 in /by

FBT exemption

Employers must pay fringe benefits tax (FBT) on certain benefits they provide to their employees in respect of employment.

However, some benefits are exempt from FBT or receive concessional treatment.

Taxi travel by an employee is an exempt benefit if the travel is a single trip beginning or ending at the employee’s place […]

Your Business Dashboard

August 19, 2019 in /by

What Should You Be Seeing

There was a time when cars didn’t have a fuel gauge. That meant you had to understand the size of your fuel tank, remember when you last bought fuel (and how much) and estimate the distance you’ve travelled since filling up.

None of that is particularly hard, but, depending on […]

Property development and tax

August 14, 2019 in /by

Taxation compliance issues for property developers

The considerations facing the ATO are many and varied, but can include topics such as whether an agreement to develop and sell land is a “more realisation” or a disposal either in the course of a business or as part of a profit-making undertaking or plan.

A “mere realisation” […]

Choosing a business structure

August 9, 2019 in /by

Setting up a business structure

If you are starting a business you will need to work out which type of business structure to use. 

We explain the benefits and disadvantages of different types of business structures. Sole trader

A sole trader is the simplest business structure and it is inexpensive to set up because there […]

Director penalty change strengthens SG rules

August 2, 2019 in /by

Director penalty change strengthens SG rules

Company directors need to keep in mind that the Corporations Act holds directors personally liable for many of the legal and financial obligations expected from a company.

But there are also some tax obligations for PAYG withholding and superannuation guarantee charge payments, which are outlined under the ATO’s “director penalty […]