Authoritative and technically accurate information and guidance on all areas of tax

What your client needs to know about the luxury car tax

You can judge whether a car is luxury or not, according to the government, if it costs more than $65,094 for 2017-18 (and $75.526 for “fuel-efficient” cars). It was $64,132 for 2016-17 (with unchanged fuel-efficient option). It’s not an over-the-top price tag if you’re considering true “luxury”, but it’s enough to cop an extra tax.

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Beware consequences of a third party on FBT liabilities

For fringe benefits tax (FBT) to apply, the conventional wisdom is that the benefits involved are provided instead of cash salary, and further that such benefits are usually paid in respect of an employment relationship. Hence the pool of accepted FBT-attracting items — laptops, cars, entertainment expenses and so on — that an employer may

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Tax & Super Australia’s 2018-19 pre-budget submission

Our pre-budget submission recommendations have been driven by the priorities, concerns and ideas of our members. In this pre-budget submission, based on a member survey that covered a broad range of taxation and superannuation issues, our suggestions reflect our overarching objective of achieving a suitable balance of fairness, efficiency and simplicity in the taxation system.

[ Read More ] site tool helps small business find the right advice

Need help with starting or growing your business? The government’s small business website hosts a free online tool to help businesses find government advisory services in their local area. The site has a section called “Expertise & Advice”, which has been designed primarily for start-ups and those new to the small business arena. The

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Your small business clients can use simpler trading stock rules

Your small business clients can use simpler trading stock rules. If your client operates a small business entity and at the end of the income year estimates that their trading stock’s value has not changed by more than $5,000, it may pay to remind them (especially if they are new to business) that they can

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