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.
New legislation before Parliament, if enacted, will make zero or low emission vehicles FBT-free. We explore who can access the concession and how.
Why should you lodge an FBT return where no FBT is payable? Well, for the simple reason that it turns on a three-year deadline for the ATO to commence audit activities. This is a NEW ATO rule as a result of massive deficits due to COVID. The ATO need to gain more funds somehow...FBT liability is one of the methods.
Going through a divorce or separation is undoubtedly challenging, but it's essential to take control of your financial future. By understanding the impact of separation on your assets, seeking professional advice, and creating a solid financial plan, you can navigate this difficult time with confidence.
Technology has transformed the way businesses operate, allowing them to reach new customers, expand into new markets, and improve operational efficiency.