Our Recent Blogs
Random ATO audits ensure employment tax compliance for businesses.
The ATO has recently initiated random audits on businesses to assess their employment tax compliance and proper record-keeping.
Electric Vehicle Electricity Costs - how do we calculate?
A fully electric vehicle means no fuel costs however, your electricity at home has probably increased from charging your vehicle. If your vehicle is salary sacrificed or provided by your employer, you may be wondering “how do we calculate how much the recharge is costing?”
FBT Exemption for Electric Cars.
From 1 July 2022, FBT is no longer payable on benefits provided for eligible electric cars and associated expenses.
Start thinking about your FBT obligations.
The 2023 FBT year ended on 31 March, so it is now time for employers to get ready to lodge their 2023 FBT returns, where they have provided benefits to their employees between 1 April 2022 and 31 March 2023.
Electric Vehicle Exemption receives Royal Assent.
Since the Government announced the introduction of the Treasury Laws Amendments (Electric Car Discount) Bill in July 2022 we have all been eagerly awaiting royal assent for the Bill to become law. We are pleased to announce that royal assent was given on 12 December 2022 which means an FBT exemption is now available for eligible electric vehicles that are both first held and used on or after 1 July 2022.
Festive Season and FBT.
With the festive season well and truly on its way, many of you may be in the midst of organising gifts and Christmas parties. Unfortunately, the provision of these benefits may give rise to Fringe Benefits Tax (“FBT”). However, there are some simple things to consider when planning your event to maximise tax benefits:
New FBT retraining and reskilling exemption available.
Recent legislative amendments mean that employers who provide training or education to redundant may now be exempt from FBT.