Category: Tax
8 Types Of Benefits That FBT Applies To
For businesses in Australia, providing fringe benefits to employees can be a valuable way to attract and retain talent, as well as incentivise performance. However, employers need to understand their obligations regarding…
Continue readingAn Employer’s Introduction To FBT
Fringe Benefits Tax (FBT) is a tax levied on particular benefits employers provide to their employees or their families. It is separate from income tax and is calculated based on the taxable…
Continue readingCompliance in the WFH Landscape: Know The Right Method You Can Use To Claim Expenses
Ensure you’re up to date on how to claim your working-from-home expenses! As the business landscape shifts back and forth between office, hybrid and home-based work opportunities, it’s important to remember what…
Continue readingWhat Counts As A Valid Self-Education Claim?
As the tax season draws near, individuals seeking to claim self-education expenses must navigate the pitfalls highlighted by the Australian Taxation Office (ATO). While pursuing knowledge and skill enhancement is commendable, it’s…
Continue reading7 FBT Considerations Your Business Should Bear In Mind This Season
For businesses operating in Australia, navigating the intricacies of the Fringe Benefits Tax (FBT) is essential to ensure compliance with tax regulations and minimise financial liabilities. FBT is a tax paid on…
Continue readingWhat You Need To Keep Records-Wise For Cryptocurrency
In the ever-evolving landscape of cryptocurrency, where digital assets can fluctuate in value within moments, keeping meticulous records is not just a good practice but a necessity. Whether you’re a seasoned investor…
Continue readingNavigating Tax Reporting in the Sharing Economy
The Sharing Economy Reporting Regime (SERR) represents a significant development in Australia’s tax landscape, requiring certain businesses operating in the sharing economy to report specific transactions to the Australian Taxation Office (ATO).…
Continue readingLand Tax – Why An Understanding Of This Facet Of Tax Could Help With Your Yearly Tax Planning
Australia’s land tax is a vital component of the nation’s taxation system, playing a pivotal role in revenue generation for state and territory governments. Understanding the nuances of land tax is essential…
Continue readingNavigating Challenging Times – Understanding NANE Income Versus Assessable Income
The recent spate of extreme weather events during the summer in various parts of Australia has presented unprecedented challenges for small businesses. As a result, the pressing concerns they face may not…
Continue readingNew Rules For Off-Market Share Buy-Backs Now Law
In a move to streamline and align the tax treatment of off-market share buy-backs, the 2023 October Budget introduced changes that have now become law (as of December 2023). These alterations, effective…
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