If you own a business that employs staff, and provide remuneration to your employees in a form other than straight salary, you may be up for fringe benefits tax (FBT). The upside for your workers is that they do not…
To get ahead of the game and stay there, you need to flex your grey matter as often as possible. Self-education is one way of ensuring you keep up to speed with developments and methods relating to either your business…
FBT — your business basics If you own a business that employs staff, and provide remuneration to your employees in a form other than straight salary, you may be up for fringe benefits tax (FBT). The upside for your workers…
While it is generally accepted that business owners are the most driven to see their business succeed, the same sort of vested interest can also give staff a sense of participation and a solid reason to see the company become…
Tax Office small business benchmarks have just been updated The Tax Office’s small business benchmarks provide a snapshot of what it sees is happening in an average business operating in a particular industry by using financial ratios. The benchmarks are…
The recent bushfires across much of the country are a reminder that as well as the more obvious immediate devastation inflicted on people’s property, these destructive events can also mean loss of income for many affected people — not only…
What are “taxpayer alerts”? Every now and then you might read or hear about a “taxpayer alert” being issued. These are the Tax Office’s “early warning” signals to the public about a certain area of concern – it could be…
Many SMSF trustees contemplate investing in real property as part of the fund’s investment strategy. However a recent Tax Office notification raised its concerns that some trustees may not fully consider the risks and issues associated with holding a real…
The Tax Office says that it has encountered several myths and assumptions adopted by both workers and employers when it comes to trying to decide the tax status of a job appointment. It found that employers continually rely upon some…
“Pardon” is a word that can sound somewhat archaic — which could be why the term “debt forgiveness” is barely mentioned in discussions on “bankruptcy”, even though the two concepts are related. Bankruptcy is dramatic, Hollywood; debt forgiveness seems dated,…