Month: April 2020

7 Reasons Your Small Business Needs a Tax Accountant

If you’re a small business owner, then you’re well aware that life gets infinitely more complicated and stressful during tax season. Already long days become longer and more stressful as you try to balance taxes for both your business and personal life. When you throw in the additional daily tasks that must be completed, it’s […]

Additional Stimulus Measures

A reminder of previously announced assistance. Note that as time passes, further guidance is provided. We may now have further information available regarding the below. Please contact us if you believe you may be eligible for any of the below to discuss any relevant applicable criteria: A new ‘shortcut method’ for claiming home office deductions […]

What is FBT: The Beginner’s Guide to Fringe Benefits Tax

In 1986, Australia introduced the fringe benefits tax. This law ensures that the government can tax the full value of each employee’s earnings. What is FBT? Most employers must pay this levy when they give staff members valuable perks, such as memberships or tickets. However, various exemptions and tax deductions can reduce the cost. Overview […]

What You Need to Do to Get Ready for the End of the FBT Year

It’s that time of year again. The FBT year which runs from 1 April to 31 March is over. This means that employers providing fringe benefits to their employees (and employee associates, such as family members), in addition to salary or wages, are required to lodge the necessary FBT returns. The term “employees” includes current, […]

JobKeeper Payment

An announcement has been made by the Morrison Government for additional business assistance on top of previously announced assistance. The JobKeeper payment is designed to help business affected by the Coronavirus to cover the costs of their employee’s wage so that more employees can retain their job and continue to earn an income.

Stimulus Package COVID-19

COVID-19 has created an uncertain time in the economy and some businesses are starting to feel the impact. Because of this, the Morrison government has announced that they will be releasing a stimulus package to help the economy to weather this storm.

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