Posts

FBT, COVID-19 tests and the otherwise deductible rule

Be aware of the rules and exemptions regarding COVID-19 testing

Whilst FBT obligations do exist, there are exemptions and deductions that can be granted when providing COVID-19 tests to employees

You may have to pay Fringe benefits tax (FBT) if you:

provide your employees or their family members with COVID-19 tests such as a rapid antigen test, […]

COVID-19 test expenses

From 1 July 2021, if you pay for a COVID-19 test for a work-related purpose, you can claim a deduction.

This only applies if you’re an employee, sole trader or contractor.

When you can claim COVID-19 testing

From 1 July 2021, to claim a deduction for the cost you incur to pay for a COVID-19 test, […]

Get your business match fit as lockdowns lift

Each business is unique and faces its own set of challenges

Throughout the pandemic, here at Salisburys we have focussed on supporting our clients as they have navigated their way through the challenges and issues we have all had to face to varying degrees over the past 18 months.

Throughout these conversations, there were […]

NSW 2021 COVID-19 micro-business grant

2021 COVID-19 micro-business grant

Applications close 18 October 2021

If you’re a micro-business (small business, sole trader or not-for-profit organisation with aggregated annual turnover between $30,000 and $75,000) impacted by the recent COVID-19 restrictions, you may be eligible to apply for a fortnightly payment of $1,500 to cover business expenses for the duration of the Greater […]

Action required: Reduce your 2021 tax

The end of financial year is approaching quickly

Now is the time to discuss with us the actions you can take before 30 June 2021 to reduce your tax and access additional cash flow.

For 2021, key priorities are likely to include:

Deferring taxable income Bringing forward deductible expenses Maximising superannuation contributions without exceeding the […]

2021 Business Planning

Using Data to Guide Your Planning

Business leaders recognise the value of using data to influence decision-making.

This has become easier due to cloud-based accounting solutions, better analytical tools, benchmarking and other methods.

But one important question remains… Which data should we access and analyse? There are so many options. Perhaps, we should ask a different question: What drives […]

Precise Cash Flow Management: Best Practices

Improving your cash position brings opportunities and reduces business risk

In the absence of equity and debt financing, alternative cash-flow management strategies can make a positive difference.

These ideas will not apply to ALL businesses but perhaps there are some you can implement. 

1. Get Better Vendor Payment Terms

Vendors are partners and are invested in […]

Business Resilience: Focusing on the Priorities

Focus on activities that have the biggest positive impact on your business

That leads to business resilience and organisations which thrive even in uncertain economic times.

But how do we know what to prioritise? There is so much that could be done in so many different areas.

Let’s simplify this complicated subject. First, we need […]

5 Steps to Stronger Cash Flow Management

Recent conditions reveal that some businesses struggling while others ‘going gangbusters’

Businesses at both of these extremes share one priority… which is to carefully manage cash.

Here are our recommendations to help you avoid risk and make the most of your cash resources:

1. Finance Processes Matter

It sounds obvious… but some organisations still lose invoices, […]

Business Resilience: Through Precise Cash Flow Management

Planning, strategy, goal-setting: they’re all critically important…

But without cash, a business is very unlikely to succeed, let alone survive.

A resilient business is one with sufficient funds for operations and growth, now and in the future.

Managing cash flow is crucial, especially in a tough business environment. And it’s not just a financial, accounting or ‘modelling’ […]