On 31 March 2021, the Fringe Benefits Tax (FBT) year ends. With the ever increasing budget deficits, the ATO will be reviewing whether
all employers who should be paying FBT are, and that they are paying the right amount. To help you meet your fringe benefits obligations,
we’ve put together all the essential information you need to know on FBT.
With the borders between the State and Territories all but open and 2021 in sight, there is a hunger for a return to normal. With Australia's desire to ‘get on with things,' sentiment reached its highest level since November 2013 and Christmas spending is expected to be consistent with previous years.
Stimulating investment is high on the Government’s agenda. To encourage spending, the 2020-21 Budget introduced a measure that allows businesses to immediately deduct the cost of new depreciable assets and the cost of improvements to existing assets in the first year of use.
We’ve had quite a few questions about the JobMaker hiring credit announced in the 2020-21 Federal Budget. The legislation enabling the JobMaker scheme has not passed Parliament as yet and until this occurs, the JobMaker rules are not certain and may change.