Fringe Benefit Tax Rules

Fringe Benefit Tax Rules

With the legislative changes for FBT implemented as  of 1 April 2016, it is important to get familiar with the new regulations. Some modifications have been made to salary sacrificed meal entertainment and entertainment facility leasing expense benefits, which may affect you. Some of the changes will affect all employers, whereas others will affect non-profit employers as … Continued

Workplace Productivity Tips

7 Ways to Improve Workplace Productivity

The success of any business, large or small, depends largely on nurturing an efficient, productive workplace. While improving employee productivity should be always be a priority when the ultimate goal is a sustainable and profitable business, the process is easier said than done. Below are some of the most effective methods of managing a productive, … Continued

Tax Effective Property Investment Strategy

Buyers to Withhold Tax for ATO When Buying Certain Properties

Parliament recently passed legislation amending the taxation law to impose withholding obligations on the purchasers of certain Australian assets – generally property purchased from a non-resident.  However, the changes will affect most purchases of property in Australia. The amendments impose a 10% withholding obligation on purchasers of ‘Taxable Australian Real Property’ (generally, this means an … Continued

Accountant Working

Holiday Homes: All You Need to Know

If you own a holiday home, it is important that it is treated correctly for taxation purposes. Here is a guide to the taxation implications of your holiday home. Holiday homes that are not rented out do not need to be included in your tax return, until you sell it. You must keep records from … Continued

Tax Deduction Claims in Australia

How To Claim Tax Deductions in Australia

It’s heartbreaking to think how much of your salary goes to tax, right? I believe every income earner feels the same. Of course, you would want to keep more of the money that you’ve earned and pay lesser tax as much as possible. But paying taxes is the law. More so, it is our obligation. … Continued