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. If you conduct your business through a company or trust, you may be an employee of the company or a trust. A car is made available for private use by an […]
Why you should lodge an FBT Return?
Even though Fringe Benefits Tax (FBT) is designed to capture benefits enjoyed by an employee, it is levied on the employer. Unless your employment agreement allows for any FBT that becomes payable to be recouped from the employee, the employer will have no recourse for reimbursement. So, why should an employer lodge an FBT return […]
Saving Money on your Mortgage
Saving money on your mortgage has become increasingly important in the current economic climate, especially as many fixed rate mortgages are ending for some borrowers, leaving them facing potentially higher monthly payments. However, with the right approach, it is possible to reduce your monthly payments and overall interest paid on the loan. From shopping around […]
STP Phase 2
You need to be aware of a key change affecting your employees and the way their pay information is reported to the ATO. Your payroll software will need to be reviewed and settings for employees updated by the 31st March 2023. WHAT IS STP PHASE 2? Under Single Touch Payroll Phase 2, the Australian Government […]
Setting Goals in 2023
Setting business goals is a crucial step in the growth and success of any organization. Goals provide a clear direction and purpose, and they help organizations focus their efforts on what matters most. However, simply having goals is not enough to ensure success. It is important to have a plan in place to achieve these […]