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Tag: March
Taxpayer’s claim for input tax credits unsuccessful
In a recent decision, the Administrative Review Tribunal (‘ART’) rejected a taxpayer’s claim for input tax credits on the basis that all the relevant GST returns (i.e., BASs) were lodged out of time. For the GST periods from 1 October 2015 to 31 March 2017, the taxpayer filed each of her GST returns more than four years after they were
ATO’s tips to help taxpayers stay on top of their BAS
The ATO has the following tips to help taxpayers get their BAS right before they lodge: They should make sure they enter the figures for their obligations at the correct label, and only complete applicable fields. If lodging online, or through a registered tax or BAS agent, they may be able to get an extra 2 or 4 weeks to
How to master employer obligations in 2025
Taxpayers who employ staff should remember the following important dates and obligations: Fringe benefits tax (‘FBT’) 31 March 2025 marks the end of the 2024/25 FBT year. Employers should remember the following regarding their FBT tax time obligations. They should identify if they have provided a fringe benefit. If they have, they should determine the taxable value to work out
FBT 2025: What you need to know
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