We believe in two simple realities: deliver exceptional value, on time.
We take time to understand your needs and those of your family so that you are assured of the best financial advice possible. We work closely with lawyers, insurance brokers, financial advisors and business professionals, and collaborate whenever possible, with your financial controller, bookkeeper and other office personnel.
The Fringe Benefits Tax year (FBT) ends on 31 March. We explore the problem areas likely to attract the ATO’s attention.
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.
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.
Granting employees’ access to company cars is treated by the ATO as a ‘non-cash benefit’, more commonly referred to as a fringe benefit.
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.
New legislation before Parliament, if enacted, will make zero or low emission vehicles FBT-free. We explore who can access the concession and how.
Effective at 30th of June 2023, our sample PCG 2021/4 report uses Dr. Nicole Smart as our example.
The ATO guidance (PCG 2021/4) totally changes the way that professional firm profits can be allocated (or split) among a family group from 1 July 2022 onwards.
When an accountant talks about Tax Planning what do they actually mean? As part of our tax advisory service we always offer strategic tax advisory, but it's important to note there are a lot of things that accountants cannot implement after June 30.
To maximise your deductions and ensure that your tax return is complete, please review the following items and advise your Accountant if any apply to you.
Understand what expenses you can claim as a property investor.
Everyone wants to pay less tax, right? To do that you need to know what you can claim… and what you can’t.
For the majority of small to medium sized business owners, the value of your business is your biggest asset, and very likely, your retirement fund.
If you perform some of your work from your home office, you may be able to claim a deduction for the costs you incur in running your home office, even if the room is not set aside solely for work-related purposes.
For the majority of small to medium sized business owners, the value of your business is your biggest asset, and very likely, your retirement fund.
Whether you need to finalise Single Touch Payroll data or produce payment summaries, this checklist will help you navigate the end of year payroll process from start to finish.
