FBT 2025: What you need to know
With the Fringe Benefits Tax (FBT) year ending on 31 March, it's important for business owners to be aware of the Australian Tax Office's hot spots for employers and employees. …
Fringe Benefits Tax: A quick guide
While income tax and company tax seem to be front of mind for most businesses, Fringe Benefits Tax (FBT) is also applicable when employers provide certain benefits to their employees or associates of employees (usually family member …
Small business with outstanding ATO debts
The Australian Taxation Office (ATO) has earmarked 2025 as the year for businesses to get their tax and superannuation debts back on track. From 01 July 2025, the cost of tax debt for businesses will increase significantly …
Changes to capital gains withholding
The Australian Tax Office (ATO) introduced changes to the Foreign Resident Capital Gains Withholding (FRCGW) rules on 01 January 2025 that will affect all Australian residents selling property. …
What lies ahead in 2025?
The past few years have been a rollercoaster ride of instability; with the COVID-19 pandemic, interest rate rises, limited housing affordability and availability, cost-of-living pressures and more. There's no guarantee, but we're al …
Hiring staff for the festive season
As the festive season approaches and holiday trading ramps up, small business employers may be considering hiring new staff to help with the likely increase in sales activity. When taking on new staff, business owners should keep in …
General Interest Charge: ATO gets tough on penalties
Quite often as tax agents, our role is to liaise with the Australian Tax Office on behalf of our clients to apply for General Interest Charge (GIC) penalties to be reduced or waived, and to arrange payment plans for tax liabilities …
More women using ‘downsizer’ contributions to boost their superannuation
If you are aged 55 years or older, the "downsizer contribution" rules enable you to place up to $300,000 from the proceeds of the sale of your home into your superannuation fund (eligibility criteria applies), and recent statistics …
It wasn’t me: the tax fraud scam
You login to your myGov account to find that your activity statements for the last 12 months have been amended and GST credits of $100,000 issued. But it wasn’t you. And you certainly didn’t get a $100,000 refund …
What do people typically do with their super when they retire?
If everything has gone to plan, you’ll have accumulated enough super throughout your working years to achieve a comfortable lifestyle in retirement. But there’s more than one way that super can be paid …