by James Carey | Mar 26, 2019 | Business Services & Advice
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 benefits to your employees, you may be liable to pay FBT. What types of...
by James Carey | Jun 19, 2018 | Business Services & Advice
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. Maximise Deductible Contributions The concessional superannuation cap for...
by James Carey | Jun 19, 2018 | Business Services & Advice, Individual Tax
The end of financial year is almost here! Now is the time to review what strategies you can use to minimise your tax. 1. Maximise Deductible Super Contributions Individuals can now make tax-deductible personal contributions to superannuation to reduce their taxable...
by admin | Mar 28, 2018 | Business Services & Advice
The Fringe Benefits Tax (FBT) year ends on 31 March. We’ve outlined the key hot spots for employers and employees. Motor vehicles – using the company car outside of work New safe harbour for utes and commercial vehicles Car parking – are you really declaring the true...
by James Carey | Feb 15, 2018 | Business Services & Advice, Individual Tax
The ATO has plans to relax the rules for the private use of work utes in the lead up to their blitz on Fringe Benefits Tax non-compliance. Existing rules allow utes to only be used for ‘minor, infrequent and irregular’ journeys without incurring Fringe...
by James Carey | Jan 18, 2018 | Business Services & Advice, Self-Managed Superannuation
Recent changes to State laws may trigger a surprise tax bill for family trusts (discretionary trusts). The problem for family trusts stems from recent legislative changes in New South Wales (NSW), Victoria (VIC) and Queensland (QLD) that impose a surcharge on...
