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Minimise Your Personal Tax – 2023 Tax Planning Guide

Minimise Your Personal Tax – 2023 Tax Planning Guide

Maximize your savings with our tips on reducing taxes. Claim tax deductions for home office expenses during COVID-19 using the “Shortcut Method.” Take advantage of the $25,000 deductible super contribution cap & consider carry-forward contributions. High-income earners may face additional 15% tax..

Capital Gain Tax – Thinking of Selling  your business?

Capital Gain Tax – Thinking of Selling your business?

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. Upon the sale of your business, it is critical you receive the maximum available net proceeds.

How The ATO Identifies Potential FBT Employers

How The ATO Identifies Potential FBT Employers

The ATO access other databases to ensure that employers are compliant. One example of this is accessing state government records to confirm all motor vehicle purchases by an employer and ensuring that these are properly accounted for in both the financial statements.

Entertaining, Meals and FBT

Entertaining, Meals and FBT

An everyday occurrence across the business landscape in Australia is the practice of taking both existing and potential clients out for a meal to cement the business relationship, with the cost of this meal often covered by one party.

What is a Car Fringe Benefit?

What is a Car Fringe Benefit?

A car fringe benefit commonly arises when an employer makes a car they own or lease available for the private use of an employee. If you conduct your business through a company or trust, you may be an employee of the company or a trust.