As tax season approaches, it’s essential for businesses and individuals to be aware of the Australian Taxation Office’s (ATO) key focus areas. Understanding these hot spots can help you stay compliant and avoid potential audits. This comprehensive guide will provide you with detailed insights into the ATO’s primary areas of scrutiny for 2024 and how … Read more
Fringe Benefits Tax (FBT) is a tax employers pay on certain benefits they provide to their employees (or their employees’ associates) in addition to salary or wages. Entertainment benefits are a common type of fringe benefit that includes business lunches, social functions, and events. This guide aims to provide small business owners with a comprehensive … Read more
Fringe Benefits Tax (FBT) is a tax employers pay on certain benefits they provide to their employees (or their employees’ associates) in addition to salary or wages. One of the most common types of fringe benefits provided by employers is the use of vehicles. This guide aims to provide small business owners with a comprehensive … Read more
The Australian Taxation Office (ATO) is actively targeting trusts and how trusts distribute income to beneficiaries. A number of clients have requested a review of their structures to ensure that they are in the best possible position in the future. We want to help you achieve the best result. Distributing trust income Managing trust distributions … Read more
The Essential 30 June Guide For You Opportunities The end of the financial year is coming soon. Here are ways to get ready for the 1 July 2024 tax cuts: Prepay your deductible expenses for this year. Make any deductible super contributions. Plan any donations to take advantage of the higher tax rate. Boosting Super … Read more
