Accounting Archives - Salisbury Accountants

Salisburys farewells Josh McNeill

August 12, 2021/in Accounting /by Salisbury Accountants & Business Advisors

Mixed feelings as we wish Josh the best in his new role

It is with mixed feelings that we say farewell to Salisburys Accountant Josh McNeill at the end of this month.

Of course, all the Salisburys team will feel the gap left by Josh, a popular member of our team and a talented accountant, […]

Taxable payments annual report (TPAR)

May 10, 2021/in Accounting /by Salisbury Accountants & Business Advisors

It’s not just businesses that pay contractors in the building and construction industry that need to lodge a TPAR

The ATO’s taxable payments reporting system (TPRS) is a black economy measure designed to assist the ATO identify contractors who don’t report or under-report their income.

The ATO estimates that around 280,000 businesses need to lodge […]

Changes to company tax rates

April 21, 2021/in Accounting /by Salisbury Accountants & Business Advisors

There are changes to the company tax rates

The full company tax rate is 30% and the lower company tax rate is 27.5%.

This page shows when to apply the lower rate and how to work out franking credits.

Company tax rates apply to:

companies corporate unit trusts public trading trusts.

The full company tax […]

Albury CPA Patrick Rorke

March 16, 2020/in Accounting /by Salisbury Accountants & Business Advisors

Salisburys welcomes new Principal, Patrick Rorke

Here at Salisbury Accountants & Business Advisors, we’re delighted to welcome Patrick Rorke CPA to our firm as Principal.

A knowledgeable accounting professional across business accounting and superannuation, Patrick (centre) will apply his considerable expertise to work on finding practical solutions for Salisbury’s clients.

Growing up in rural NSW, […]

Xero increased security

February 17, 2020/in Accounting /by Salisbury Accountants & Business Advisors

Xero’s increased security on user data has changed the way you log in

Just one easily guessed password can stop your business in its tracks.

When it comes to keeping your Xero data secure, put an extra deadbolt on the door with two-step authentication (2SA) and stay safe online.

Seeing that cyber-crime has gained […]

Use-of-cash draft rules released

November 18, 2019/in Accounting /by Salisbury Accountants & Business Advisors

Draft rules supporting new currency restriction legislation released by Treasury

The legislation bans the use of cash for some transactions of more than $10,000, and has just been passed by the House of Representatives.

The Currency (Restrictions […]

Record keeping for CGT

July 17, 2019/in Accounting /by Salisbury Accountants & Business Advisors

Record keeping for capital gains tax (CGT)

As the ATO’s data-matching capabilities increase, they are paying close attention to capital gains made on shares, property and cryptocurrency.

Always keep good records in relation to these assets, as this will help in working out a capital gain or loss correctly when you dispose of one. Your […]

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Lost tax file numbers

July 10, 2019/in Accounting /by Salisbury Accountants & Business Advisors

Lost your tax file number?

Here’s what to do

If you’ve lost your tax file number (TFN) there are a few options for you to try to get it back.

Your first avenue of enquiry, if you use the services of a tax agent or accountant, will be to ask them for your tax […]

False laundry claims

July 1, 2019/in Accounting /by Salisbury Accountants & Business Advisors

ATO targeting false laundry claims

The ATO will take strong action against false clothing and laundry work-related expense claims this tax time.

The ATO noted that six million taxpayers claimed clothing and work-related laundry expenses in 2018. Although many Australians can claim clothing and laundry expenses, Assistant Commissioner Karen Foat said that it is unlikely […]

Tax planning tactics for individuals

June 24, 2019/in Accounting /by Salisbury Accountants & Business Advisors

EOFY last-minute tax planning tactics for individuals

This financial year is almost over, but there are still tactics you may be able to employ to make sure you pay the right amount of tax for the 2018-19 year.

While the best strategies are adopted in July (that is, as early as possible in a financial […]

Mixed feelings as we wish Josh the best in his new role

It is with mixed feelings that we say farewell to Salisburys Accountant Josh McNeill at the end of this month.

It’s not just businesses that pay contractors in the building and construction industry that need to lodge a TPAR

The ATO’s taxable payments reporting system (TPRS) is a black economy measure designed to assist the ATO identify contractors who don’t report or under-report their income.

There are changes to the company tax rates

The full company tax rate is 30% and the lower company tax rate is 27.5%.

Here at Salisbury Accountants & Business Advisors, we’re delighted to welcome Patrick Rorke CPA to our firm as Principal.

Just one easily guessed password can stop your business in its tracks.

The legislation bans the use of cash for some transactions of more than $10,000, and has just been passed by the House of Representatives.

As the ATO’s data-matching capabilities increase, they are paying close attention to capital gains made on shares, property and cryptocurrency.

Always keep good records in relation to these assets, as this will help in working out a capital gain or loss correctly when you dispose of one. Your […] Read more

Here’s what to do

The ATO will take strong action against false clothing and laundry work-related expense claims this tax time.

This financial year is almost over, but there are still tactics you may be able to employ to make sure you pay the right amount of tax for the 2018-19 year.

Always keep good records in relation to these assets, as this will help in working out a capital gain or loss correctly when you dispose of one. Your […]

Read more