Tax Blog
An Employer’s Introduction To FBT
TaxFringe 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 value of the fringe benefit provided.
As an employer,…
Potential Tax Challenges Your Business Could Face At EOFY
TaxAs the end of the financial year approaches, businesses face a critical task: evaluating their financial standing and anticipating potential tax challenges.
Neglecting this assessment could lead to financial losses and punitive measures.
Let’s…
Compliance in the WFH Landscape: Know The Right Method You Can Use To Claim Expenses
TaxEnsure 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 methods are available to…
What Counts As A Valid Self-Education Claim?
TaxAs 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 crucial…
Preventing An ATO Audit With Proper Lodgement Of Your Return
TaxThe Australian tax system is designed to be fair to all, so we all must pay the correct amount of tax each year.
The Australian Taxation Office (ATO) contacts around 2 million taxpayers annually to review their tax returns, although not all…
Fringe Benefits Tax Considerations For Australian Businesses
TaxFor 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 certain employee benefits in addition…
What You Need To Keep Records-Wise For Cryptocurrency
TaxIn 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 or a newcomer to the crypto…
Understanding Potential Tax Deductions
TaxTax season is a time when individuals across the country turn their attention to their financial affairs, ensuring compliance with tax laws while seeking to minimise their tax burden.
While many Australians may be familiar with common tax deductions…
Navigating Tax Reporting in the Sharing Economy
TaxThe 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…
Land Tax – Why An Understanding Of This Facet Of Tax Could Help With Your Yearly Tax Planning
TaxAustralia’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 for property owners, investors,…
Why Are The Stage 3 Tax Cuts The Subject Of Discussion At The Moment?
TaxIn a significant move poised to benefit a broader population segment, the Australian federal cabinet has approved changes to the stage-three tax cuts package, set to come into effect from July 2024.
The proposed amendments bring about a more…
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