Taxation
Understanding Fringe Benefits Tax
The 31st of March is fast approaching, which means the end of another Fringe Benefits Tax (FBT) year. FBT can quite often be ignored by many
March 13, 2023
The 31st of March is fast approaching, which means the end of another Fringe Benefits Tax (FBT) year. FBT can quite often be ignored by many
It’s important to acknowledge that the Government’s announcement is a proposal only. It will need to go through the usual parliamentary process and if legislated
Around this time last year, we sent you an email alerting you to the new process for Director IDs. With the deadline of 30th November
With the end of the financial year fast approaching, it is the ideal time to review your 2022 tax year so there are no surprises
The 2022 Budget marked a big change from the past 2 years which saw large expenditure and business support to help the economy and country
About STP Phase 2 STP is the new norm for reporting payroll information electronically to the ATO. STP Phase 2 is an expansion on an
Existing company directors will soon be asked to verify their identity and will be required to apply for a Director Identification Number (Director ID) by
Late last week, additional financial support was announced for businesses impacted by the recent South East Queensland and Cairns lockdowns. Under the package, businesses in
The Queensland Government has today announced further relief packages for tourism and hospitality businesses impacted by the recent COVID-19 lockdowns in South East Queensland and Cairns.
Prior to the Cairns three day lockdown, many businesses in the region were struggling after a decline in visitor numbers caused by lockdowns in South
Single Touch Payroll – Annual Finalisation All employers must complete their STP Finalisation declarations by 14 July 2021. The ATO recognise the effects of COVID-19 and
On Tuesday 11th May 2021, the Treasurer handed down the Federal Budget which sees a continuation of the Government’s focus to support the economy through a
I was lucky enough to spend some time in Vietnam earlier this month on a business trip. I was there to assist a client with capital raising and exploring potential new markets. Personally and professionally, the trip was very enjoyable, however this was not an opportunity I would have expected
When asked by that trusting friend/colleague to join them as a Director in their company…. Are you aware of the responsibilities that you are signing up for? Being a silent Director, does not mean that your duties as a Director are silenced. You can be prosecuted just the same, should
It’s important to take the time to understand what expenses you are entitled to claim against your taxable income and remember that spending the money is only half of it, you must have proof of the expenditure and be able to substantiate to the ATO how it relates to your
Recent legislative changes have now restricted the ability to claim certain rental property expenses. There are two main items where tax deductibility have been significantly reduced impacting on most investment property owners. Read on as we explore and explain the changes in relation to claiming Travel Deductions and Depreciation for
As the end of financial year fast approaches, clients are reminded to consider their tax planning strategies to ensure prompt action is taken before the 30 June deadline. Below are some useful reminders and references for SMSF trustees in the lead up to 30 June. Superannuation Contributions: It is important
30 June is fast approaching! With that in mind, now is the opportune time to plan for the 2018 Tax Year, so that you are not taken by surprise. Some areas of your business that you should consider to ensure you achieve the best tax outcomes are explained below. Superannuation
By now, nearly everyone has heard of Bitcoin, the cryptocurrency that started them all. When Bitcoin reached approximately $20,000 AUD in December 2017, I don’t think you could be online without having some sort of cryptocurrency advertising targeting you! The media spotlight continues to shine on Bitcoin, and as with
