The ATO has announced its annual warning to employers planning their staff Christmas parties and FBT tax implications. Hosting these events are a Fringe Benefits Tax (FBT) minefield. The warnings are timely as we head into the Christmas party season and many small businesses shout their staff to celebrate the year that was. This article …
Everything you need to know about Christmas parties and FBT Read More »
It’s that time of year when some of you may have received a tax bill from the ATO. Depending on the amount, it can sometimes be a stretch to pay it off in one go, meaning you need to sign up to a payment plan and pay in predetermined instalments over time. So if you …
Everything you need to know about ATO payment plans Read More »
Treasury has released draft legislation to enact the Federal Government’s plan to increase the tax rate on earnings on superannuation balances over $3m from 15% to 30% from 1 July 2025. This is the final step before the legislation is introduced into Parliament and a step closer to implementation. The draft legislation seems to be …
Draft legislation released for 15% on earnings for superannuation balances over $3m Read More »
The 2023 Australian Intergenerational Report provides a 40-year projection of the outlook of the economy and the Government’s budget to 2062–63. The report forecasts structural trends that will give current generations an insight and encouragement about what we need to be doing now to successfully navigate the future. The report links the continued growth and prosperity of …
What will Australia look like 40 years from now? Read More »
Attracting and retaining good staff is essential for your business. If you’ve given your employees perks and benefits such as car parking or gym memberships, you should consider the Fringe Benefit Tax (FBT) implications. These extras can be a great bonus on top of salary and wages – but they can attract an FBT liability. …
Xero recently launched the Xero Beautiful Business Fund, a new initiative, backing small businesses to boost their growth and meet their ambitions for the future. What is the Beautiful Business Fund? Xero is offering more than NZ$750,000 in funding to Xero small business customers across Australia, Canada, New Zealand, Singapore, South Africa, the UK and …
Apply now for your share of the Xero Beautiful Business Fund Read More »
Setting up a new business is often an exciting and challenging journey. Getting set up and seeking proper advice from the start will put you on a path to success. So, have you thought about trademarking your business name? Or has someone else beaten you to it? You’ve completed all the required registrations, you have …
As part of the Australian Government’s new Protecting Worker Entitlements laws, there have been several changes made to the Fair Work Act. What applies now Some changes took effect on 1 July 2023. They include: changes to unpaid parental leave entitlements protections for migrant workers changes to the way enterprise agreements and workplace determinations interact. …
Fair Work Act Changes: Protecting Worker Entitlements explained Read More »
The Federal Government has received final submissions for a raft of proposed industrial relations reforms it hopes to introduce to parliament later in the year. So, what do we know about the possible changes and how could they affect employers? Five key areas of change Information released by the Department of Employment and Workplace Relations …
Proposed Industrial Relations reforms and what they mean for business Read More »
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