Paying off your mortgage is a significant financial milestone, but once you’ve reached the halfway mark, what’s the best next step? Should you continue aggressively paying it down, start investing, or focus on building your superannuation?
Self-Managed Super Funds (SMSFs) offer Australians greater control over their retirement savings, and property investment is one way people can take advantage of this flexibility.
On 31 March, the Fringe Benefits Tax (FBT) year ends. With the ever increasing budget deficits, the ATO will be reviewing whether all employers who should be paying FBT are, and that they are paying the right amount. Who needs to lodge a FBT return? Find out here.
With the right strategy and financial discipline, borrowers can take full advantage of rate cuts and get ahead on their mortgage, potentially saving hundreds of thousands in interest.
Small businesses with a history of non-compliance may be required to transition to monthly GST reporting starting in April, as part of an initiative by the Australian Taxation Office.
How a trust distribution resolution is worded directly impacts the tax liability. It is important not because it determines what is taxable but because it is the basis for determining where the tax liability falls.
A car fringe benefit commonly arises when an employer makes a car they own or lease available for the private use of an employee.
The Australian Government is revising tax incentives for electric vehicles, including phasing out Fringe Benefits Tax (FBT) exemptions for plug-in hybrid electric vehicles (PHEVs). Businesses providing these vehicles to employees must understand the impact of these changes and take necessary steps before the deadline.
Why should you lodge an FBT return where no FBT is payable? Well, for the simple reason that it turns on a three-year deadline for the ATO to commence audit activities. This is a NEW ATO rule as a result of massive deficits due to COVID. The ATO need to gain more funds somehow...FBT liability is one of the methods.
