Three more pieces of small business legislation tabled The government has introduced legislation for the following three small business measures that, if passed, will apply from 1 July 2015: A tax offset to individuals who run small businesses (with an aggregate annual turnover of less than $2 million), or who have a share of a […]
Three more tax changes for small business
Three more tax changes for small business The government has introduced legislation for the following three small business measures that, if passed, will apply from 1 July 2015: A tax offset to individuals who run small businesses (with an aggregate annual turnover of less than $2 million), or who have a share of a small […]
change to treatment of FBT on car fringe benefits
change to treatment of FBT on car fringe benefits The government has announced that it will bring forward the commencement of the emissions trading scheme so that there will be a floating, rather than a fixed, price on carbon emissions from 1 July 2014. As this will affect government revenue, the government has also announced […]
CPI- December quarter 2013
CPI- December quarter 2013 The CPI indexation factor for the December 2013 quarter is 104.8 (an increase of 0.8 from the September quarter of 104.0). This indexation factor is now basically only used (in a taxation context) for FBT purposes in relation to remote area housing. Interested in joining our team? Why not apply […]
Massive change to treatment of FBT on car fringe benefits
Massive change to treatment of FBT on car fringe benefits Editor: The government has announced that it will bring forward the commencement of the emissions trading scheme so that there will be a floating, rather than a fixed, price on carbon emissions from 1 July 2014. As this will affect government revenue, the government has […]
IGT Reaches Out to Punters to work Out Where to Go
IGT Reaches Out to Punters to work Out Where to Go The Inspector-General of Taxation (IGT), Ali Noroozi, has announced that he will now consult the public to develop his new work program for 2014 and beyond, inviting all interested parties to have a say. “My work program seeks to target areas that potentially provide […]
FBT Exempt Vehicles
FBT Exempt Vehicles As described in the Fringe benefits Tax legislation, a ute is an exempt vehicle. This basically means, that as long as the vehicle is used for personal use if it is minor, infrequent and irregular, then there is no Fringe Benefits Tax payable on the benefit provide to an employee. Please look […]