Newsletter

The Fringe Benefits Tax (FBT) year ends on 31 March. We’ve outlined the hot spots for employers and employees. FBT exemption for electric cars Employers that provide employees with the use of eligible electric vehicles (EVs) can potentially qualify for an FBT exemption. This should normally be the case where: The car is a zero or low emission vehicle (battery

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The Government has announced its intention to introduce mandatory standards for large superannuation funds to, amongst other things, deliver timely and compassionate handling of death benefits. Do we have a problem with paying out super when a member dies? The value of superannuation in Australia is now around $4.1 trillion. When you die, your super does not automatically form part

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The amount of money that can be transferred to a tax-free retirement account will increase to $2m on 1 July 2025. The transfer balance cap – the amount that can be transferred to a tax-free retirement account – is indexed to the Consumer Price Index (CPI) released each December. If inflation goes up, the general transfer balance cap (TBC) is

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The Government recently passed legislation making changes to the foreign resident capital gains withholding laws (among other changes). Foreign resident capital gains withholding is relevant for all vendors selling certain taxable real property (e.g., Australian land). Even Australian residents can be caught by these laws because, if they do not have a valid ‘clearance certificate’ issued by the ATO at,

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The ATO has recently published a document ‘debunking’ various Division 7A ‘myths’ Division 7A of the tax legislation is intended to prevent profits or assets being provided to shareholders or their associates tax free. A payment or other benefit provided by a private company to a shareholder or their associate can be treated as a dividend for income tax purposes

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With many businesses looking at Christmas parties, celebrations and gifts, now is a good time to look at what is tax deductible and what isn’t. Are the costs of client gifts deductible? What about gifts for your staff? Those client lunches or drinks, they’re a deductible expense right? Let’s see if we can answer some of these questions for you.

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There are very limited circumstances where taxpayers can legally access their super early, and the ATO is reminding taxpayers that “paying bills and buying Christmas presents doesn’t make the list.” Generally, taxayers can only access their super when they: reach preservation age and ‘retire’; or turn 65 (even if they are still working). To access their super legally before then,

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Employers are reminded that employee superannuation contributions for the quarter ending 31 December 2024 must be received by the relevant super funds by 28 January 2025.  If the correct amount of Superannuaion Guarantee (SG) is not paid by an employer on time, they will be liable to pay the SG charge, which includes a penalty and interest component. The SG

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The Fair Work Commission has determined that a Philippines based “independent contractor” was an employee unfairly dismissed by her Australian employer. Like us, you are probably curious how a foreign national living in the Philippines, who had an ‘independent contractors’ agreement with an Australian company, could be classified as an Australian employee by the Fair Work Commission? The recent case

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The Government has amended the legislation guiding registered tax practitioners to include compulsory reporting of material uncorrected errors to the Tax Commissioner. The Government has legislated a series of changes to the Tax Agents Services Act 2009 that place additional requirements on registered tax practitioners and how they interact with clients. The reforms are in response to the recommendations of

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