Posts

Research & Development (R&D) Tax Incentive

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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 […]

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EOFY and the tax time countdown

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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 […]

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Reduce Your 2022 Tax

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Tax planning key priorities

With the end of financial year approaching quickly, NOW is the time to discuss with us the actions you can take before 30 June 2022 to reduce your tax and grow your wealth.

Many business owners have reduced their 2022 PAYG instalments to Nil during the COVID-19 period, but now you […]

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2022/23 Federal Budget

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1. Personal income tax changes

1.1 Increase to low and middle income tax offset (‘LMITO’)

The Government has announced a once-off $420 ‘cost of living tax offset’ for the 2022 income year, which will be provided in the form of an increase to the existing LMITO. This will increase the maximum LMITO benefit to $1,500 […]

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Resources to navigate fringe benefits at tax time

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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 […]

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Reviewing business performance

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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 […]

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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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Family trust elections

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Review your family trust elections to get your tax right

A family trust for tax purposes is one whose trustee has made a valid family trust election (FTE).

The FTE entitles the trust to access certain concessions, however family trust distribution tax (FTDT) is imposed when distributions are made outside the family group.

Example

The […]

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Action required: Reduce your 2021 tax

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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 […]

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Tracey’s Story – interview with Salisbury Accountants

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Being a business owner can be a lonely place

But Wodonga’s Tracey Smith has found a great workaround!

Tracey is a digital marketing strategist and business automation specialist working with a range of businesses in Australia and New Zealand. She also runs her own successful e-commerce business.

“It’s actually really cool when business owners are […]

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