Tax

Arabon Accountants Christmas parties and FBT

Everything you need to know about Christmas parties and FBT

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 […]

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Arabon Accountants siide hustle

When is a side hustle a business?

The rise and rise of OnlyFans, YouTube, TikTok and other online platforms offer amazing opportunities for content creators to generate an income from their side hustle.  As these opportunities increase alongside the sometimes-considerable income streams, the Australian Tax Office (ATO) has issued warning to the rising industry. How are content creators taxed? An update released by

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Arabon Accountants tax planning

Top Tips to get you through the End of Financial Year

As the end of the financial year (EOFY) approaches, it is important for businesses to prepare themselves accordingly. This is the time when businesses must reconcile their accounts, file their tax returns and make necessary adjustments to their financial strategies. Proper preparation can help businesses maximise their returns and avoid costly mistakes. Here are some

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Arabon Accountants Federal Budget

Australian Federal Budget 2023/24: the wins for small business

On Tuesday evening, Federal Treasurer Jim Chalmers handed down the 2023-24 federal budget.  A surplus of $4.2 billion is forecast in 2022-23, but an underlying cash deficit of $13.9 billion is expected in 2023-24 (and a $35.1 billion deficit for 2024-25). The budget papers note that the global economic outlook has deteriorated and is highly

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