Taxation

For businesses managing a vehicle fleet, or using fuel for business activities, the Fuel Tax Credits (FTC) scheme can be an excellent route for operators to claim full or partial credits for the fuel tax (excise or customs duty) that's included in the price of fuel.

For businesses managing a vehicle fleet, or using fuel for business activities, the Fuel Tax Credits (FTC) scheme can be an excellent route for operators to claim full or partial credits for the fuel tax (excise or customs duty) that's included in the price of fuel.

In January 2024, the government announced that it would redesign the Stage Three tax cuts that were initially announced by the former government in 2018. The new rates were designed to provide larger tax cuts to low and middle income earners and reduce the tax cuts for those earning $160,000 or more.

For businesses managing a vehicle fleet, or using fuel for business activities, the Fuel Tax Credits scheme can be an excellent route for operators to claim full or partial credits for the fuel tax (excise or customs duty) that's included in the price of fuel.

Read our latest Insights article on the newly updated Fuel Tax Credits rates now in effect via the link (blog.agredshaw.com.au)

For businesses managing a vehicle fleet, or using fuel for business activities, the Fuel Tax Credits scheme can be an excellent route for operators to claim full or partial credits for the fuel tax (excise or customs duty) that's included in the price of fuel.

On Tuesday, 9th May, Federal Treasurer Hon. Jim Chalmers handed down the 2023/24 Federal Budget, a second delivered by the Albanese Government, providing an outlook into the Government's priority to create a "responsible and sustainable" economic strategy, in the face of continued inflation, rising cost-of-living, and global volatility.

In our latest Building Your Business podcast episode, Chris Lewis chats with Aisha Thomas as they discuss the newly released draft Taxation Ruling (TR 2022/D2) providing an update on expat Australian's individual tax residency rules.

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.

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.

After two years of significant spending by the Government amid the COVID-19 pandemic in providing financial assistance to businesses and individuals, the Government will now be looking at ways to boost revenue and recoup the money spent to support the economy through the pandemic. With increased funding being provided to the ATO, we can expect to see a rise in the level of review and audit activity in areas the ATO believe mistakes are being made by taxpayers.