During these sessions, our newest Tax Partners, Kirsty McDonnell and Vanessa Priest, will be discussing all things tax- including updates to legislations, tax rulings, tax cases and other tax news!

Past sessions

Tax Chat | Webinar 2

Tax Chat | Webinar 3

Tax Chat | Webinar 4

Tax Chat | Webinar 5

Expert speakers

Kirsty McDonnell
Director
SW

Vanessa Priest
Director
SW

The post Tax Chat webinar series appeared first on SW Accountants & Advisors.

A change in government for the first time in nine years, further interest rate increases expected, staffing shortages, supply chain issues and rising business costs – our fourth Federal Budget in two years will need to deliver for Australian businesses, and particularly small to medium-sized enterprises (SMEs).

Opportunities for growth, investment and trade are critical to everyone’s success, so SW Accountants & Advisors has partnered with Small Business Australia (SBA) to get to the heart of what business is looking for from the Budget, come Tuesday 25 October 2022.

As the Federal Budget approaches, we invite you to:

• have your say by taking our short survey – tell us what you need from the Budget and/or pass it on to small businesses in your network
• register for our Federal Budget Webinar – hear insights from ANZ, Small Business Australia and SW industry experts.

Take the survey! Receive a $250 Small Business Australia voucher

Take this short 2-3min survey from SW and SBA and tell us what you need from the budget in order to Look forward and Open doors. You’ll help us build a robust and current view of Australian small business.

PLUS you’ll receive a $250 SBA voucher to put towards business coaching, training opportunities or Business Advantage services. Survey closes Wednesday 19 October at 6pm.   

Budget Breakfast Webinar – 26 Oct | 9.30am AEDT

Join us as we digest the details of the 2022 Federal Budget at an informative webinar with an interactive Q&A session.

Our host, Matt Birrell will be joined by guests ANZ Senior Economist, Catherine Birch, and Bill Lang, Director at Small Business Australia as well as our SW industry experts to breakdown the key details of the FY23 Federal Budget.

Online Registration details

Date         Wednesday 26 October 2022

Time         9.30am – 11am (AEDT) 

Expert speakers

Follow us on social media to receive the latest updates on Federal Budget and other important industry news.

The post Federal Budget FY23 Business Survey & Webinar appeared first on SW Accountants & Advisors.

At our recent Mandarin Tax and Accounting update, our team of experts discussed the recent key accounting and tax changes, the impact and opportunities that these changes would bring to individuals and businesses.

重点税务与财务事宜更新总汇 | Summary of key tax & accounting matters 

• 联邦预算重点事宜跟进
  Follow up on Budget key tax measures
• 各州疫情补贴汇总/对比
  State COVID support overview/comparison
• 澳大利亚税务局最新税收裁定与观察
  ATO Ruling updates & observations
• 个人与中小型企业近期关注
  ATO‘s focus area on Individual and SMEs
• 近期重大税务案件回顾
  Recap of key cases
• 《减少信息披露制度》与《简化披露准则》的差异对比
  RDR and SDS comparison
• ASIC 最新消息及其他条例变化
  ASIC update and other regulatory changes

专家团队 | Our experts

张洋 Bessie Zhang 合伙人 Partner E bzhang@sw-au.com		叶嘉 James Ye 合伙人 Partner E jye@sw-au.com		栾万博 Leo Luan 合伙人 Partner E lluan@sw-au.com
时炜淞 Vincent Shi 合伙人 Partner E vshi@sw-au.com		林长春 Neville Lin 总监 Associate Director E nlin@sw-au.com		陈泓洋 Michael Chen 经理 Manager E mchen@sw-au.com

联系我们 Contact us

若您有任何疑问或想了解更多详情，欢迎通过 marketing@sw-au.com 联系本所市场团队。
If you have any queries or would like more information, please contact the Marketing team via marketing@sw-au.com.

关注我们的微信公众号，查看更多最新资讯与活动。
Follow our WeChat account to stay updated on insights and our other webinars.

The post 全中文税务与财务更新讲座 | Mandarin Tax and Accounting update appeared first on SW Accountants & Advisors.

Key Takeaways

• Projected deficit of $16bn (2019-20 deficit $6.9bn). Return to surplus by 2024-25
• $29bn committed to economic support measures (including pre-budget measures) in response to the COVID-19 crisis and recession

• $107.1bn pipeline of infrastructure projects
• $29.3bn in recurrent and capital funding of the health system
• Approximately $1.4bn investment in schools infrastructure
• Additional $700m for digitisation transformation of government services via a $1.6bn Digital Restart Fund
• $500m of digital vouchers for hardest hit sectors (dining, arts and entertainment industries)
• Reform agenda to be undertaken for tax (a possible transition away from transfer duty), Government’s planning system, labour force flexibility and regulatory regimes
• Other measures in support of mental health, extended free pre-school scheme, renewable energy and education were included in the budget.

Significant Tax Measures

• Payroll tax rate is to be cut from 5.45% to 4.85% for a 2-year period, backdated to 1 July 2020. The payroll tax threshold will also be permanently increased from $1 million to $1.2 million
• Small and medium sized businesses that do not pay payroll tax will be provided with $1,500 in digital vouchers to cover the cost of government fees and charges
• Jobs Plus Program for companies who relocate their Head Offices or expand their jobs footprint in NSW (from 15 December 2020 until 30 June 2022) will be entitled to payroll tax relief, up to a 4-year period, for every new job created where a business creates at least 30 new net jobs
• Landlords land tax relief for the 2020 land tax year, of up to 50 per cent of the land tax liability relating to their land leased. This Budget extends this support to provide land tax relief of up to 25 per cent for the 2021 land tax year for landlords of retail tenants. Will be available to landlords who provide rent reductions between 1 January 2021 to 28 March 2021, and to eligible retail tenants experiencing financial distress due to the pandemic.

Opportunities for growth and stability

• The economic reform agenda provides the ideal opportunity to both repeal inefficient taxes such as Stamp Duty as well as cut much of the red tape that tends to stifle economic activity
• Proposed expenditure covers almost every sector with particular focus on construction, education and health as the major beneficiaries of the proposed funding boosts
• The focus on building NSW’s presence on the global stage bodes well for new burgeoning industries, particularly in digital technologies, as well as sectors that were on the incline before the pandemic such as health and education
• While the substantial funding provided in the past via GST, stamp duty and payroll tax has been substantially reduced the Government is contemplating the privatisation route to make up the shortfall.

Did the NSW Budget deliver what you ordered?

It has been an extraordinary year of upheaval as the nation and NSW in particular grapples with the effects of COVID-19 and we recognise that everyone has been impacted in different ways. Reach out to one of our experts below for assistance navigating the implications and opportunities this Budget presents for you, your business and your industry.

The post NSW 2020/21 State Budget appeared first on SW Accountants & Advisors.