Business Activity Statement BAS Archives

EOFY and the tax time countdown

June 15, 2022/in Tax Planning /by Salisbury Accountants & Business Advisors

End of financial year calendar and the countdown to tax time — FY22

A lot of things need to happen between the end of financial year (EOFY) and tax time. Here are the dates and deadlines to keep in mind when getting tax ready.

Key dates in June

30 […]

Fuel tax credit latest rates

February 21, 2022/in Bookkeeping /by Salisbury Accountants & Business Advisors

From 1 July 2021 to 30 June 2022

The ATO’s fuel tax credit calculator includes the latest rates

You can use it to work out the fuel tax credit amount to report on your business activity statement (BAS).

The following tables contain the fuel tax credit rates for businesses from 1 July 2021 to 30 June […]

Positive business experience thanks to Salisburys

October 27, 2021/in Case Studies & Feature Business Articles /by Salisbury Accountants & Business Advisors

Craig and Kathy Hogan speak with Salisburys

Cricket coach Craig Hogan and wife, Kathy, are the first to admit that they’ve always liked trying new and different things throughout their careers.

So when a guesthouse in Bright VIC came onto the market for sale, being overseas did not phase them.

Instead, they saw the potential […]

Tax relief for businesses affected by COVID-19

April 23, 2020/in COVID-19 Resources, Tax Planning /by Salisbury Accountants & Business Advisors

Businesses affected by COVID-19 can now access support from the ATO on managing their tax affairs

The ATO will allow deferrals of payments for 6 months for income tax, activity statements, FBT and excise payments.

Also, affected businesses will be able to apply for remission of interest and penalties.

Affected businesses are being encouraged to […]

COVID-19 Cash Flow Boost

April 21, 2020/in COVID-19 Resources /by Salisbury Accountants & Business Advisors

Boosting Cash Flow for Employers

Cash Flow Boost not to be offset against existing tax debt in some situations.

The Tax Office has announced that the cash flow boosts will be applied to reduce liabilities arising from the same activity statement but will not be offset against existing BAS debt but rather refunded to you.

[…]

Support measures to assist those affected by COVID-19

March 12, 2020/in COVID-19 Resources, Tax Planning /by Salisbury Accountants & Business Advisors

Options available to assist businesses impacted by COVID-19

The Australian Taxation Office (ATO) will implement a series of administrative measures to assist Australians experiencing financial difficulty as a result of the COVID-19 outbreak.

Commissioner of Taxation Chris Jordan is encouraging businesses impacted by the coronavirus to get in touch with the ATO to discuss relief […]

Increased fuel tax credit rates

March 3, 2020/in Tax Planning /by Salisbury Accountants & Business Advisors

Fuel tax credit rates increased on 3 February

Fuel tax credit rates change regularly. They are indexed twice a year, in February and August, in line with the consumer price index (CPI).

Rates may also change in July for fuel used in a heavy vehicle for travelling on public roads. This is due to changes […]

Bushfire assistance

January 30, 2020/in Tax Planning /by Salisbury Accountants & Business Advisors

Bushfires November 2019

Devastating bushfires have been burning across large parts of New South Wales and Queensland since November 2019.

Support is available

If you’ve been impacted by these bushfires, we don’t want you to be concerned about your tax affairs. Now is the time for you, your family and community. We’ll help you sort […]

Don’t lose a tax deduction for non-compliant payments to employees

October 30, 2019/in Payroll /by Salisbury Accountants & Business Advisors

Are you meeting your Pay As You Go (PAYG) Withholding obligations?

If you are running a business, you can no longer claim deductions for payments to employees/workers if you have not met your Pay As You Go (PAYG) Withholding obligations.

This applies to tax returns lodged for the 2020 year onwards.

The PAYG rules […]

No tax deductions if you don’t meet tax obligations

June 28, 2019/in Business Advice /by Salisbury Accountants & Business Advisors

Big Tax Changes: No tax deductions if you don’t meet your tax obligations

There’s recently been a big tax law change that may reduce the tax deductions for many businesses across Australia.

This may happen if you:

Don’t lodge your BAS on time; or Don’t lodge your payroll each week using Single Touch Payroll […]

Posts

End of financial year calendar and the countdown to tax time — FY22

A lot of things need to happen between the end of financial year (EOFY) and tax time. Here are the dates and deadlines to keep in mind when getting tax ready.

From 1 July 2021 to 30 June 2022

The ATO’s fuel tax credit calculator includes the latest rates

Craig and Kathy Hogan speak with Salisburys

Cricket coach Craig Hogan and wife, Kathy, are the first to admit that they’ve always liked trying new and different things throughout their careers.

The ATO will allow deferrals of payments for 6 months for income tax, activity statements, FBT and excise payments.

Cash Flow Boost not to be offset against existing tax debt in some situations.

The Australian Taxation Office (ATO) will implement a series of administrative measures to assist Australians experiencing financial difficulty as a result of the COVID-19 outbreak.

Fuel tax credit rates change regularly. They are indexed twice a year, in February and August, in line with the consumer price index (CPI).

Devastating bushfires have been burning across large parts of New South Wales and Queensland since November 2019.

Support is available

If you are running a business, you can no longer claim deductions for payments to employees/workers if you have not met your Pay As You Go (PAYG) Withholding obligations.

There’s recently been a big tax law change that may reduce the tax deductions for many businesses across Australia.