An everyday occurrence across the business landscape in Australia is the practice of taking both existing and potential clients out
for a meal to cement the business relationship, with the cost of this meal often covered by one party.
Equally, business owners commonly reward by taking high performing employees out for lunch and covering the cost.
In conclusion, the provision of meal entertainment benefits can be a taxation minefield. We strongly suggest that if you have questions
regarding your business practices and how you reward your employees please contact us on (03) 5911 7000 or send us an
email.
The Fringe Benefits Tax year (FBT) ends on 31 March. We explore the problem areas likely to attract the ATO’s attention.
On 31 March, 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. Who needs to lodge a FBT return? Find out here.
To be eligible to make a downsizer contribution to your super, you must be aged 55 or older and have owned your home for at least 10 years prior to the sale.
The investment market volatility that kicked off in March 2025 has felt like a punch, particularly for those in or nearing retirement.