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R&D Claims, Watch Out – The ATO Eyes Incorrect Deductions
The Research and Development (R&D) tax incentive program serves as a catalyst for innovation, encouraging companies to engage in R&D activities by providing targeted tax offsets. However, recent concerns have prompted the Australian Taxation Office (ATO) to...

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Stage 3 Tax Cuts – The Latest Rundown & What To Expect
Tax cuts have been a recurring topic in political discussions, often shaping fiscal policies and influencing government revenue. The Stage 3 Tax Cuts introduced by the Morrison government in 2019 have been a point of contention and scrutiny, with promises and...

5 Common Mistakes Businesses Might Make Before Tax Time
While there is still time before the financial year draws to a close, businesses are still encouraged to assess their current financial situation and strategies to prevent critical tax mistakes. Often, these mistakes could lead to not only fiscal losses but potential...

Why You Should Lodge An FBT Return Every Year – 26th Feb
FBT returns are required to be submitted annually, for the FBT year (1 April to 31 March) by the 21 May. While it may seem peculiar to file a return when the FBT liability for the year is zero, this practice is routine for most businesses. Calculating Your FBT...

Are You Providing Fringe Benefits?
Are your employees entitled to perks like a car space, gym membership, or even a company car as part of their employment contracts? These offerings fall under the category of fringe benefits—alternative forms of payment to employees, distinct from salary or wages....

PROPOSED NEW STAGE 3 TAX CUTS
Addressing the pressing need for cost-of-living relief among Australians remains the Government's foremost priority, with tax cuts being a pivotal measure to alleviate financial pressure. The proposed tax cuts scheduled for 2024-25 are poised to make a substantial...

What’s Claimable On A Work Trip?
In the dynamic world of employment, there are often perks that come our way, like the opportunity to embark on work-related journeys. Whether it's a welder heading to a marina for essential boat repairs or any other duty-driven travel, you've potentially shouldered...

The New Reporting Regime For The Share/Gig Economy
Attention to those participating in the sharing economy! New reporting requirements have been introduced and are currently in place, impacting those who are engaged in connecting customers to service providers or facilitating the lending of personal assets through...

The Difference Between LAFHA & A Travel Allowance
Embarking on work-related travels can impose various demands on employees, encompassing financial, physical, and emotional aspects. In response to these challenges, compensation methods have evolved, giving rise to both travel allowances and the living away from home...

Why You Should Lodge An FBT Return Every Year – 26th Feb
FBT returns are required to be submitted annually, for the FBT year (1 April to 31 March) by the 21 May. While it may seem peculiar to file a return when the FBT liability for the year is zero, this practice is routine for most businesses. Calculating Your FBT...

Are You Providing Fringe Benefits?
Are your employees entitled to perks like a car space, gym membership, or even a company car as part of their employment contracts? These offerings fall under the category of fringe benefits—alternative forms of payment to employees, distinct from salary or wages....

PROPOSED NEW STAGE 3 TAX CUTS
Addressing the pressing need for cost-of-living relief among Australians remains the Government's foremost priority, with tax cuts being a pivotal measure to alleviate financial pressure. The proposed tax cuts scheduled for 2024-25 are poised to make a substantial...

What’s Claimable On A Work Trip?
In the dynamic world of employment, there are often perks that come our way, like the opportunity to embark on work-related journeys. Whether it's a welder heading to a marina for essential boat repairs or any other duty-driven travel, you've potentially shouldered...

The New Reporting Regime For The Share/Gig Economy
Attention to those participating in the sharing economy! New reporting requirements have been introduced and are currently in place, impacting those who are engaged in connecting customers to service providers or facilitating the lending of personal assets through...

The Difference Between LAFHA & A Travel Allowance
Embarking on work-related travels can impose various demands on employees, encompassing financial, physical, and emotional aspects. In response to these challenges, compensation methods have evolved, giving rise to both travel allowances and the living away from home...

Nominating Your Tax Agent
With more security and fraud-related scams targeting vulnerabilities and attempting to commit identity theft and fraud, the ATO has changed the process for how tax agents can access your information. From 13 November 2023, there’s a new process to nominate your tax...

Your Tax Checklist For The New Year
As the festive season approaches, it's easy to get caught up in the excitement of Christmas preparations. However, before you get too carried away with holiday cheer, it's the perfect time to update your tax checklist to ensure a smooth and stress-free tax season in...

GST & Your Business
Understanding and managing the Goods and Services Tax (GST) is crucial for businesses operating in Australia. GST, set at a rate of 10%, applies to most goods, services, and items sold or consumed in the country. If your business is GST-registered, it becomes your...

Avoid Post-Party Tax Hangovers – The Complexities Of FBT
There’s no need to fret about being a tax Grinch during the year-end celebrations – we’ve made it easier for you to stay on top of your business's FBT responsibilities! Tis the season to celebrate, and many companies like to spread the holiday cheer by hosting festive...
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