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Category Archives: Articles

Do you operate a business and offer ‘fringe benefits’ to your employees?

Do you operate a business and offer 'fringe benefits' to your employees

If so, Treasury has proposed changes to the record-keeping requirements to reduce the FringeBenefits Tax (FBT) compliance cost. Fringe benefits – an extra benefit supplementing an employee’s money wage or salary, for example, a company car, private healthcare, etc. The proposal is less stringent on the need to obtain specific documents such as employee declarations. […]

Are you or a family member approaching age 60?

Are you or are they considering selling the family home? If you answer ‘yes’ to the above two questions, you may consider taking advantage of making a ‘Downsizer Contribution’ to your superannuation fund. What is the downsizer contribution? The downsizer contribution allows you and your spouse to make an after-tax contribution to your superannuation fund […]

Is your business eligible for new grants and support from the NSW Government?

To access the assistance your business must; Have an aggregated annual turnover of between $75,000 to $50 million for the 2021 financial year, and Experienced a decline in turnover of at least 40% due to Public Health orders or the impact of COVID-19 during the month of January 2022 compared to the same month in […]

Business Owners – Are you considering providing Christmas gifts to your staff?

The key questions that we are asked this time of year are; will the staff gifts be subject to Fringe Benefits Tax (FBT) and will the provision of the gift to the staff member(s) be tax deductible. Fringe Benefit Tax (FBT) With regard to Fringe Benefit Tax, the Australian Taxation Office (A.T.O.) generally look at […]