Welcome to the PT Partners Blog

News, views and real perspectives.

Superannuation Amnesty for Employers

written by:
Darren Hagarty


The Australian Taxation Office (ATO) are continuing to target employers who aren’t paying the full and correct amount of superannuation guarantee for their employees. In addition to the ATO ramping up their compliance activities, there is also proposed legislation which will contain harsher repercussions for affected employers, including the requirement to undergo education, the issuing of payment directions to the employer or company directors personally, and even the threat of imprisonment. However, there is…

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Federal Budget 2018 – What You Need To Know

written by:
Josh McMullen


The 2018 Federal Budget was handed down on Tuesday 8 May. Following is a brief summary of some of the headline measures. INDIVIDUALS Income Tax Reduced – The centrepiece of the Budget was a three-step plan to reduce income tax for low and middle income earners over the next 7 years. The first step involves introducing a new Low and Middle Income Tax Offset from 2018/2019. This provides up to $530 per…

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ATO Guidelines on What Makes an Eligible Vehicle Exempt from FBT

written by:
Kelvin Deer


Generally, a fringe benefit arises where an employer makes a vehicle they hold available for the private use of its employee. However, a fringe benefit is an exempt benefit where the private use of eligible vehicles by  employees during an FBT year is limited to work-related travel, and other private use that is ‘minor, infrequent and irregular’. Eligible Vehicles include:- Panel Vans Single Cab Utes Dual Cab Utes (Not designed…

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Get Ready for Single Touch Payroll

written by:
Darren Hagarty


Single Touch Payroll (STP) starts from 1 July 2018 for employers with 20 or more employees and will be expanded to include employers with 19 or less employees from 1 July 2019. STP is a reporting change for employers. Essentially, STP requires that each time an employer pays their employees, they will have to instantly report to the Tax Office information such as the salaries and wages, pay as you go (PAYG) withholding and superannuation. The information will need to be…

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Changes to the Claiming of Travel Costs for Inspecting Investment Properties

written by:
Josh McMullen


On 15 November 2017, legislation was passed into law which will see most owners of residential investment properties denied tax deductions for travel expenses related to their properties. This law is backdated to any travel undertaken from 1 July 2017 onwards. The legislation is quite wide in scope and covers travel for all purposes including travel for the purpose of inspecting, maintaining, and collecting rent, as well as undertaking repairs…

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Estate Planning Explained

written by:
Darren Hagarty


Estate Planning means different things to different people. Ultimately, it is about ensuring that you have the right mechanisms in place to ensure that in the event of your death, your assets pass in the manner you intend them. To help you better conceptualise the Estate Planning process, we’ve created an Infographic to outline the key steps. How We Can Help? Through a deep understanding of the personal and business structures of…

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