All news by: Courtney Ashworth

2021 Fringe Benefits Tax Update

Whilst some aspects of life transition to a new “COVID-normal”, the Australian Taxation Office (ATO) continues to highlight its understanding of how COVID-19 is impacting business, and communicate some of the changes and administrative concessions relevant to employers for the Fringe Benefits Tax (FBT) year ending 31 March 2021 and beyond.  

Fringe Benefits Tax changes - what to look out for

When it comes to Fringe Benefit Tax, not a lot has changed in recent years. However, from 1 April 2021, a few additional concessions and exemptions have been afforded to taxpayers.

Tips for the FBT year end - car fringe benefits

With the Fringe Benefits Tax (FBT) year ending on 31 March 2021, here are a few issues in relation to car fringe benefits to look out for during the 2020-21 FBT year.

Changing superannuation landscape for employers – are your superannuation obligations in order?

The Australian superannuation landscape is changing. With the introduction of Single Touch Payroll the Australian Taxation Office (ATO) has access to more real time data than ever before. In addition, recent and proposed changes to tax laws means it might be time to review your employer superannuation compliance.

Understanding travel expenses for your Not-for-Profit organisation

Many NFP boards have set out to attract not only industry professionals but also legal, tax and media specialists to assist them in achieving their aims while minimising risk. While volunteer board members may not expect to be rewarded for their services, the absence of any remuneration can leave them unduly out of pocket.

A better workplace

The Budget sees the Government place emphasis on generating ongoing employment opportunities for all Australians.