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What you need to know about FBT 2020
The Fringe Benefits Tax (FBT) year ends on 31 March. We’ve outlined the hot spots for employers and employees. FBT updates and problem areas Car parking under scrutiny Motor vehicle problem areas...
The Stimulus Package: What You Need To Know
The Government has announced a $17.6 billion investment package to support the economy as we brace for the impact of the coronavirus. The yet to be legislated four part package focuses on business...
Directors now personally liable for GST, WET & LCT
It has been a big week in parliament. This update is important for any directors as their personal liability for company activities has increased. From 1 April 2020, company directors will be...
Superannuation Guarantee Amnesty
After first being announced 24 May 2018, the Superannuation Guarantee Amnesty has now been passed by parliament and is awaiting royal assent. The SG Amnesty provides for a one-off amnesty to...
Single Touch Payroll – beware of the intended consequences
Single Touch Payroll consequences Single Touch Payroll (STP) is now mandatory for most employers, though there remains concessional reporting for small and family businesses. STP replaces annual...
Individual Tax Returns: Tax Tips FY19
The time has come to start preparing for your 2019 tax return. There are a couple of key areas of interest and changes that you should be aware of. The ATO has told us that they have two key areas...
Important EOFY actions for businesses
We all would like to reduce our tax exposure and minimise risk of an audit by the regulators. This end of financial year update outlines the actions to take to do exactly that: Summary of key...
Single Touch Payroll is coming
The deadline for employers with fewer than 20 employees to implement Single Touch Payroll is fast approaching. Unless you are exempted, you must implement this change by 1 July 2019. If you are an...
What you need to know about FBT 2019
What is FBT? Fringe Benefits Tax (FBT) is a tax payable by employers on certain benefits they provide to their employees. The FBT year runs from 1 April to 31 March. If you have provided certain...
Be Alert for Scams
Be Alert for Scams We have seen a dramatic rise in the number of scam attempts on our clients in the form of: • ATO Debt scams • Fake Medicare Scams • ASIC scams As a simple rule, if you are getting...
How To Protect Your Business Against Cyber Crime
It's important to keep your business, staff and client information secure. Below are some tips to help protect you against the growing threat of Cyber Crime in Australia. Ensure your passwords are...
Last Minute Tax Reminder for Businesses
As we get closer to the end of financial year, you may be thinking about what deadlines you still need to meet for your business, as well as how you may be able to claim some tax benefits. 1....