Posts

Tax-smart tips for crypto asset investments

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You may need to include a capital gain or capital loss in your income tax return

If you exchange crypto assets (crypto) for goods, cash or other crypto assets then this is normally considered a disposal for the purposes of capital gains tax.

Make tax time easier by remembering these 3 tips: Disposal of crypto assets […]

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Choosing your business structure

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Choosing the best structure for your business can be difficult

There are numerous options, each with its own set of benefits and drawbacks

There are four commonly used business structures in Australia:

Sole trader Partnership Company Trust

It’s important to understand the responsibilities of each structure because the structure […]

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Protect your business with the PPSR

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Personal Property Security Register (PPSR)

Registering on the PPSR is a way to let people know if personal property such as cars, goods or company assets have security interests over them.

With the difficulties that small businesses are facing from the effects of the pandemic and natural disasters, business owners are increasingly having to put […]

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Your SMSF investment strategy

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Have you reviewed your SMSF investment strategy?

Self-managed super funds (SMSFs) are required to prepare and implement an investment strategy to help meet their investment and retirement goals.

The investment strategy is not designed to be a ‘set and forget’ document but rather a strategy you continuously review to ensure you are meeting your retirement […]

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What your business is worth and why it matters

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Building a business can be a long, challenging process

One way to assess how you are doing is to VALUE your business… and then try to grow that valuation.

This keeps management on track and is interesting to sellers, investors or lenders. In this article, we look at how to go about valuing your business.

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Financial year-end preparation

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What’s changed and what’s new?

It has been a year of recovery for Australian businesses, with the country achieving some of the best economic outcomes in the world.

While there have been disruptions, there have also been additional allowances and tax changes designed to assist businesses.

Stay on top of your obligations with this helpful […]

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Succession Planning – Making an Early Start

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As accountants, we like our clients to think ahead… even on a 3 to 10-year timeframe.

A major part of this is Succession Planning. 

Where Succession Planning is concerned, clarity brings opportunity… and the risks of “getting it wrong” can be significant.

Let’s start with a few definitions.

Estate planning:

This means ensuring one’s assets are distributed […]

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Foreign beneficiaries rulings for discretionary trusts

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Reminder, it’s time to review your trust deed

If you haven’t already done so, please review your trust deed now to determine whether it needs to be updated.

With changes in rulings around foreign beneficiaries in discretionary trusts owning residential property happening for Victoria at the beginning of this year, and NSW at the end […]

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It is time to review your trust deed?

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Action required before 31 December 2020

With changes in rulings around foreign beneficiaries in discretionary trusts coming in to play as of 31 December 2020, we are now recommending a review of your trust deed to ensure it is up to date and reflects the operation of the trust.

Background

Trusts are governed by are […]

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2020/21 Federal Budget Summary

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Salisbury Accountants Federal Budget Summary 2020/21

1. Personal income tax changes

1.1 Changes to personal income tax rates

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 […]

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