by Ben Smith | Feb 1, 2024 | Accounting & Audit, Featured
From 1 July 2022, employers do not pay FBT on eligible electric cars and associated car expenses if they meet the following conditions: The car is a zero or low emissions vehicle – battery electric, Hydrogen fuel cell electric, plug in hybrid electric vehicles...
by Ben Smith | Feb 1, 2024 | Featured, Legal Services
Prior to 1 February 2024, land in NSW may have been exempt from land tax where only one of multiple owners occupies the property as a principal place of residence. This was the case even where some of those owners only owned a tiny proportion of the property. From 1...
by Ben Smith | Dec 14, 2023 | Accounting & Audit, Featured
If your accountant reminds you to pay your superannuation (super) obligations on time, there is good reason for that. The introduction of single touch payroll (STP) has made it very easy for the ATO to monitor employer’s activities. There has been a lot of audit...
by Ben Smith | Dec 14, 2023 | Accounting & Audit, Featured
The Australian Taxation Office (ATO) is increasing scrutiny on rental property claims, targeting accuracy and compliance in the upcoming tax season. Recent audits revealed errors in 90% of returns, therefore the ATO has employed a data-matching protocol with mortgage...
by Ben Smith | Nov 22, 2023 | Accounting & Audit, Featured
Client-to-agent linking now applies to all entity types with an ABN (excluding sole traders). This was implemented on the 13 November and includes entity types such as companies, trusts, partnerships, superannuation funds and not-for-profits. Client-to-agent linking...
by Ben Smith | Nov 22, 2023 | Accounting & Audit, Featured
Maximising Your Investment: The Importance of a Tax Depreciation Schedule for Your Rental Property Investing in a rental property is often a smart financial move, but it’s essential to take advantage of every opportunity to maximise your returns. One...
