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Category Archive - Business Tax

Be Aware of Scammers Impersonating the ATO

written by:
Darren Hagarty


Many Australians believe they would never fall victim to a scam and could confidently spot one or know what to do if they were targeted. However, scammers are becoming more sophisticated in their attempts to trick people into paying money or providing personal information. We are seeing an increasing incidence of scammers purporting to be from the ATO. In the wake of Scams Awareness Week (12–16 August), please know that…

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The Federal Election Tax Washup

written by:
Josh McMullen


With the Government being returned at the recent Federal Election, we look at what this means from a tax perspective. BUSINESS Instant Asset Write-Off Boosted and Expanded With the Government winning, the major depreciation reform that was implemented just prior to the Election will remain in place. That is, going forward, new purchases from 2 April 2019 of business-related assets up to $30,000 (up from $25,000) can be written off…

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Federal Budget 2019 – What You Need To Know

written by:
Josh McMullen


The 2019 Federal Budget was handed down on Tuesday 2 April. Following is a summary of the headline measures. BUSINESS TAX CHANGES Instant Asset Write-Off Boosted and Expanded – Two key changes have been made. Firstly, the write-off has been extended to medium-sized businesses (those with an aggregated annual turnover of less than $50 million). Secondly, the threshold has been increased to $30,000. Therefore, subject to legislation, businesses with an…

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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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