taxpayers Archives - Salisbury Accountants

The Government has announced that it will bring forward changes to the personal income tax rates that were due to apply from 1 July 2022, so that these changes now apply from 1 July 2020 (i.e., from […]

ATO allowances on late lodgement and penalties

June 15, 2020/in COVID-19 Resources, Tax Planning /by Salisbury Accountants & Business Advisors

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 […]

Under COVID-19 providing certain benefits deemed not taxable

June 9, 2020/in COVID-19 Resources, Tax Planning /by Salisbury Accountants & Business Advisors

COVID-19 employment benefits

The ATO has been asked pertinent questions from taxpayers about some salient queries that have arisen due to the current COVID-19 employment environment. These may apply to a wide sample of taxpayers.

Some queries have related to fringe benefits tax (FBT) and the supply of items from an employer to staff to […]

Salisburys tax planning reminder

June 4, 2020/in Tax Planning /by Salisbury Accountants & Business Advisors

Reduce your tax

With the end of financial year just weeks away, there is still time to discuss with us the actions you can take before 30 June to reduce tax and access additional cash flow.

“In the business world, the rear view mirror is always clearer than the windshield” – Warren Buffett

It’s the […]

Temporary visa holders: Changed conditions for COVID-19

April 30, 2020/in COVID-19 Resources /by Salisbury Accountants & Business Advisors

Changes to temporary visa holder arrangements during COVID-19 crisis

The Department of Home Affairs says measures have been made to protect health and livelihoods of Australians, to support critical industries and boost recovery.

Home Affairs records show that there are 2.17 million temporary visa holders in Australia at present. This includes about 8,000 medical professionals, […]

2020 Tax planning

April 14, 2020/in Tax Planning /by Salisbury Accountants & Business Advisors

Reduce your 2020 tax

With the end of financial year approaching quickly, now is the time to discuss with us the actions you can take before 30 June 2020 to reduce your tax and access additional cash flow.

For 2020, key priorities are likely to include:

Maximise Federal and State Government Stimulus Payments Deferring […]

Economic Stimulus Package

March 13, 2020/in Business Advice /by Salisbury Accountants & Business Advisors

Coronavirus Economic Stimulus Package

The Government has announced a $17.6 billion economic plan to keep Australians in jobs, keep businesses in business and support households and the economy as the world deals with the significant challenges posed by the spread of the coronavirus.

The targeted stimulus package is focused on keeping Australians in jobs and […]

Foreign resident CGT main residence exemption

December 9, 2019/in Tax Planning /by Salisbury Accountants & Business Advisors

ATO treatment of amendments related to foreign resident CGT main residence exemption

The ATO has released details of its administrative treatment of proposed amendments extending Australia’s foreign resident capital gains tax (CGT) regime to deny foreign and temporary tax residents access to the CGT main residence exemption.

Proposed measure

The government had announced that […]

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Tax planning key priorities

With the end of financial year approaching quickly, NOW is the time to discuss with us the actions you can take before 30 June 2022 to reduce your tax and grow your wealth.

What the Federal Budget means for business

To help create jobs, business investment and confidence after COVID-19 created the first recession since 1990, the Federal Government has just released a big spending 2021-22 Federal Budget.

Salisbury Accountants Federal Budget Summary 2020/21

1. Personal income tax changes

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.

The ATO has been asked pertinent questions from taxpayers about some salient queries that have arisen due to the current COVID-19 employment environment. These may apply to a wide sample of taxpayers.

With the end of financial year just weeks away, there is still time to discuss with us the actions you can take before 30 June to reduce tax and access additional cash flow.

The Department of Home Affairs says measures have been made to protect health and livelihoods of Australians, to support critical industries and boost recovery.

With the end of financial year approaching quickly, now is the time to discuss with us the actions you can take before 30 June 2020 to reduce your tax and access additional cash flow.

The Government has announced a $17.6 billion economic plan to keep Australians in jobs, keep businesses in business and support households and the economy as the world deals with the significant challenges posed by the spread of the coronavirus.

The ATO has released details of its administrative treatment of proposed amendments extending Australia’s foreign resident capital gains tax (CGT) regime to deny foreign and temporary tax residents access to the CGT main residence exemption.

Proposed measure