2021 Federal Budget business breakdown

What the Federal Budget means for business

To help create jobs, business investment and confidence after COVID-19 created the first recession since 1990, the Federal Government has just released a big spending 2021-22 Federal Budget.

Based on our analysis, the big winners appear to be:

Business – the instant tax deduction for buying equipment, cars, […]

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 […]

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 […]

SG amnesty ends 7 September 2020

Time running out for employers to apply for superannuation guarantee (SG) amnesty

Catch up on past unpaid super without incurring a penalty or paying administration fees.

The ATO is encouraging employers to apply for the amnesty and make payments as early as they can. Any amnesty amounts paid before 7 September 2020 are tax-deductible.

For […]

Last Minute Tax Minimisation Tips

6 Final reminders of how to reduce tax for 2020

EOFY Reminders & Action Items

As a business owner, there are many obligations that you need to consider and action just before and after 30 June.

Some of these will help to minimise your tax. Others will reduce your exposure to an ATO tax audit. […]

SBSCH USERS Deadline reminder to claim your tax deduction

Want to claim a deduction for super contributions?

Your super payments must be accepted by 23 June 2020.

Super payments are only considered to be paid for the purpose of claiming a tax deduction once they have been received by the super fund, not the date the Small Business Superannuation Clearing House (SBSCH) accepts them?


Temporary visa holders: Changed conditions for COVID-19

Changes to temporary visa holder arrangements during COVID-19 crisis

The Department of Home Affairs says measures have been made to protect health and livelihoods of Australians, to support critical industries and boost recovery.

Home Affairs records show that there are 2.17 million temporary visa holders in Australia at present. This includes about 8,000 medical professionals, […]

2020 Tax planning

Reduce your 2020 tax

With the end of financial year approaching quickly, now is the time to discuss with us the actions you can take before 30 June 2020 to reduce your tax and access additional cash flow.

For 2020, key priorities are likely to include:

Maximise Federal and State Government Stimulus Payments Deferring […]

Albury CPA Patrick Rorke

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, […]

Salary sacrificing super

Information for employers

An employee can ‘sacrifice’ part of their salary or wages into super contributions under an agreement with you.

You then pay the sacrificed amount to your employee’s super fund on their behalf.

There may be benefits to both of you in that:

for your employee salary sacrificing is a tax-effective way of […]