In today’s digital world, people are accumulating assets in more forms than ever. Some are obvious, such as shares or property, while others exist quietly online and are often forgotten until tax time. Yet even if you haven’t thought about them in months – or years – these digital assets can still have tax implications…
Fringe Benefits Tax (FBT) is a tax that applies to most non-cash benefits provided to employees in addition to their salary or wages. For employers, understanding FBT is essential to stay compliant, avoid penalties, and manage the financial implications of providing benefits. What Is Fringe Benefits Tax? FBT is separate from income tax and is…
After a proper break, getting back into business mode can feel tough. January can feel like one long Monday, making your vacation seem further away by the day. But for businesses, it’s imperative. Between catching up on emails, reconnecting with clients and getting your team back into routine, it’s easy for tax and compliance obligations…
As the year winds down, many businesses are preparing to celebrate with end-of-year parties, staff gifts, and client events. While these celebrations are a great way to recognise your team’s hard work, it’s important to understand the Fringe Benefits Tax (FBT) implications that can arise. Getting it wrong can lead to unexpected tax bills –…
No one enjoys the idea of an Australian Taxation Office (ATO) audit, but it’s a reality that both individuals and businesses should be prepared for. The good news is that most audits are triggered for specific reasons — and staying honest and transparent with your accountant can make all the difference if the ATO ever…
If you haven’t yet lodged your tax return, you’re not alone. With the 31 October deadline fast approaching, now’s the time to get everything in order so you can lodge on time and avoid penalties. A little organisation in these final days can save you stress and ensure you don’t miss out on legitimate claims.…
If you run your business from home, you’re not alone—and you may be entitled to valuable tax deductions. The ATO allows deductions for the portion of your home expenses that relate directly to your business. Let’s break down the essentials so that you know what you might be able to claim on your tax return.…
If you’re thinking about selling your rental property, one of the most important things to prepare for is Capital Gains Tax (CGT). Many property investors underestimate how significant CGT can be—but with the proper planning and advice, you can manage your tax position effectively and avoid surprises at tax time. When CGT Applies A CGT…
