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Changes to FBT In 2024

Changes to FBT In 2024

Understand what your new responsibilities for FBT are as an SME – from car fringe benefits to purchasing new motor vehicles in general.

How to Maximise Your Super Contributions For Later In Retirement

How to Maximise Your Super Contributions For Later In Retirement

You’re required by law to make contributions to super to give you enough funds in your retirement years, which means making the most out of these contributions is really going to help you stay financially secure for longer: Understand Contribution Types Know the...

ATO Alerts on ‘Double Dipping’ Work-From-Home Deductions

ATO Alerts on ‘Double Dipping’ Work-From-Home Deductions

As tax time for 2024 in Australia approaches, one of the ATO assistant commissioners, Rob Thomson, has outlined some of the main errors that are being made regarding WFH-related expenses - primarily expressing the importance of understanding the two main methods that...

Five Cash Flow Trends Impacting Small Businesses in Australia

Five Cash Flow Trends Impacting Small Businesses in Australia

Naturally, consistent cash flow is paramount for any small businesses simply looking to stay afloat. Having said that, with how frequently all the latest trends in cash flow management tend to change it can be particularly difficult trying to keep up with them on your...

How Will Lump Sum Payment Tax Relief Work in 2024?

How Will Lump Sum Payment Tax Relief Work in 2024?

Low-income earners may receive a lump sum payment in arrears (LSPIA) to cover unpaid wages, workplace compensation, or welfare remunerations. The Medicare Levy LSPIA can sometimes put people’s lump sum income over the threshold, leaving them liable for the Medicare...

The 2024 – 2025 Federal Budget

The 2024 – 2025 Federal Budget

The 2024-2025 Federal Budget described as a ‘responsible Budget that helps people under pressure today’ was released last night, the 14th May at 7.30pm.  The priorities of the government were reflected in the Budget released by the Federal Treasurer, Dr Jim...

7 Tax Planning Tips for Australian Businesses in 2024

7 Tax Planning Tips for Australian Businesses in 2024

Tax planning isn’t just about meeting lodging payments and deadlines. It’s about monitoring your cash flow, understanding your financial positioning, and adopting accounting practices that propel your business towards success. Stay with us as we list seven valuable...

4 Fringe Benefits Tax Reminders for the 2024–2025 Year

4 Fringe Benefits Tax Reminders for the 2024–2025 Year

Fringe benefits tax (FBT) is applied to the perks you offer your employees. These can range from providing company cars that employees can use privately to offering a low-interest loan or monetary bonus.  Between 31 March 2021 and 2025, FBT is charged at a 47%...

7 2023 Financial Year-End Preparation Tips

7 2023 Financial Year-End Preparation Tips

As the 2023 financial year-end fash approaches, we identify several opportunities for businesses to refine their books, optimise tax savings, and prepare for the next year ahead.  Read on as we list our seven tips for last-minute end-of-year tax planning! Analyse...

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