Tax Planning - What is it and how can it save you money?

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Tax Planning - What is it and how can it save you money?

When an accountant talks about Tax Planning what do they actually mean? As part of our tax advisory service we always offer strategic tax advisory, but it's important to note there are a lot of things that accountants cannot implement after June 30.

If you want the most strategic tax outcome, tax planning will give you insight on what you can do or action before June 30 to provide a better tax outcome. With the 2021 Financial Year nearing its final quarter we encourage you to consider discussing a Tax Planning strategy with us.


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22 Mar

Why You Should Lodge an FBT Return in 2021

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.


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22 Mar

What is a Car Fringe Benefit?

A car fringe benefit commonly arises when an employer makes a car they own or lease available for the private use of an employee.


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22 Mar

Entertaining, Meals and FBT

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.


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22 Mar

How The ATO Identifies Potential FBT Employers

The ATO has signalled that there will be an increased focus on FBT this year. Given the ever-improving tools at the ATO’s disposal, in conjunction with the government’s need to raise additional revenues, it is important that employers ensure they remain compliant with their FBT requirements.


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22 Mar

Providing Cars to Employees - Tips & Traps

Granting employees’ access to company cars is treated by the ATO as a ‘non-cash benefit’, more commonly referred to as a fringe benefit.


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15 Feb

Fringe Benefits Tax - All the need-to-knows

On 31 March 2020, 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.


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Top Tax Tips For Property Investors

Now that the new financial year is here, it’s time to start looking at all the ways you can make the most of your investment property. If you want to claim your expenses on your rental property, it’s vital that you have good records.


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