Accounting
Fringe Benefits Tax (FBT) Changes 2024: What SMEs Need to Know
As we approach the end of the Fringe Benefit Tax year for 2023/24, it is important for SME businesses to continue to maintain obligations ahead of the 31 March Year-End date.
Whether an UPE to income or capital of a trust estate is a loan?
We have been fielding questions over the last couple of weeks on an Administrative Appeals Tribunal (AAT) decision that occurred at the end of September 2023.
What is a Virtual CFO and how can it help My Business?
As business owners, significant time is dedicated to the operations of your business, however, sometimes when you are clouded in the day to day, it is difficult to step back and analyse the financial health of your business and potential growth opportunities. It also becomes increasingly difficult for one person to oversee all finances, therefore it is critical that SME businesses receive timely and incisive advice.
Fringe Benefits Tax Considerations for Work Christmas Parties
As we approach the Christmas period, many businesses will now be considering the festive season, with planning and organisation of celebrations for workplaces, employees, clients, and associates well underway.
Year-End Tax Insights 2023 for Businesses
In approaching the end of the Financial Year, we provide key analysis into potential tax changes to take effect from 1 July 2023, with potential insights covering Instant Asset Write-Off, Fringe Benefit Tax, and Superannuation.
Draft Legislation - PCG 2023/D1: Electric Vehicle Home Expenses
As electric vehicles (EVs) become more popular, the need for a comprehensive charging infrastructure to service the vehicles is increasingly important. To encourage the development of such infrastructure, the Australian Tax Office (ATO) has introduced new legislation for electric vehicle home charging costs according to draft Practical Compliance Guidance PCG 2023/D1.
Fringe Benefit Tax Exemption for Electric Cars in Australia now Law
In a measure to reduce emissions and reduce Australia's carbon footprint, the Federal Government's proposed Treasury Laws Amendment (Electric Car Discount) Bill 2022 has passed Parliament, with Fringe Benefit Tax (FBT) exemptions for electric cars now law.
New WFH Expense Method Announced by the ATO
First introduced as part of the pandemic support programs for individuals, the Australian Tax Office intends to conclude the use of their ‘shortcut’ and ‘fixed-rate’ work-from-home expense calculating methods, instead announcing a new combined methodology.
Federal Budget - October 2022 | Our Insights & Analysis
On Tuesday, 25th October, Federal Treasurer Jim Chalmers handed down the 2022/23 Albanese Government - Federal Budget, providing a brief introduction into Labor's priorities to steady the peak of inflation and manage Australia's economic deficit.