In most cases, having a valid car logbook is beneficial for both: claiming a personal tax return deduction for work related travel cost using your own car and calculating the taxable value of a car fringe benefit, when the car is provided by an employer.

Record keeping requirements in this area are strict, therefore, we believe it is a good opportunity for us to detail or remind you of your record keeping requirements under this method.

They say trust is hard earned but easily lost. The same can be said for a person’s wealth.
Death and taxes (the only two certainties in life) are topics not often discussed within family groups around the dinner table. However, I strongly advocate that family members have discussions regarding wills and wishes while they can, to avoid unintended tax implications eroding the asset pool upon succession due to a lack of communication or well considered advice.

The Superannuation Amnesty which provides employers with an opportunity to “come clean” and declare unpaid or late superannuation guarantee (SG) payments to the Australian Taxation Office (ATO) is scheduled to end on 7 September 2020. 

Big brother is watching...

With the roll-out of Single Touch Payroll now finalised for many employers, it’s never been a more important time to ensure that you’re complying with your employee obligations.