Posts

Research & Development (R&D) Tax Incentive

Not sure if you can access the R&D incentive?

Your business could be eligible for a tax offset through the Research & Development (R&D) Tax Incentive.

To find out, join members from the ATO and AusIndustry in one of their free information sessions to learn how the program might benefit your business.

Free sessions

Register […]

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, […]

Resources to navigate fringe benefits at tax time

Get ready for fringe benefits tax time

The 2022 fringe benefits tax (FBT) year ends on 31 March 2022, so it’s a good time to start considering what you need to do to lodge and pay your FBT.

Employers will need to work out if you have an FBT liability for fringe benefits you’ve provided to […]

Reviewing business performance

Why just reviewing top-line financial half-yearly performance is no longer enough

In our new business world, annual reporting is becoming redundant because, by the time annual results are consolidated and produced, the data is already obsolete and the market has moved on.

In the changing commercial landscape, delaying indepth business reviews until the end of […]

Positive business experience thanks to Salisburys

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 […]

2020/21 Federal Budget Summary

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 […]

Shortcut method for claiming home office running costs

Shortcut method for claiming home office running costs

ATO announces short cut method for claiming home office running costs

The Australian Taxation Office (‘ATO’) has announced a temporary simplified short cut method to make it easier for individual taxpayers to claim deductions for additional running expenses incurred (e.g., additional heating, cooling and lighting costs), as […]

Stress less if you have nothing to confess

ATO closing tax gaps

As part of the ongoing focus on closing tax gaps, the Australian Taxation Office (ATO) are scrutinising every tax return lodged and are on the lookout for incorrect claims this tax time.

Assistant Commissioner Karen Foat is assuring taxpayers who are doing the right thing, and only claiming what they’re entitled […]

Fuel up with BP and Xero Connect

Hitting the road?

Xero now integrates with BP Plus Fuel Card in Australia, keeping small businesses on the road without the headache of holding onto physical receipts.

BP has partnered with Xero Connect in Australia to enable business customers to automate the entry of monthly invoices related to fuel expenses into Xero. This solution […]