Latest news - Forvis Mazars

The ATO’s new work from home deduction rules – practical or onerous?

065935be9547-The-ATO-s-new-work-from-home-deduction-rules-banner.png

The ATO have announced changes which will impact taxpayers who claim the “Working From Home” (WFH) deductions under the “fixed rate” method, applicable from 1 July 2022 in their 2022-23 income tax returns

Mazars in Australia strengthens international ties with new financial advisory Partner

Mazars, the international audit, tax and advisory firm, is proud to announce the expansion of its financial advisory and transaction services division in Sydney, with the arrival of Maximilien Amphoux, a new financial advisory Partner transferred from Mazars in Paris. This appointment demonstrates Mazars’ commitment to providing exceptional services to clients and illustrates the firm’s integrated partnership model, fostering global connections and relationships.

Benchmark your way to a thriving business

Benchmarking – it’s the No.1 thing you can do right now to bring your processes up to scratch and plan for a big spike in profits. By letting you see where you sit compared with industry leaders, it goes beyond traditional KPI monitoring to help your business prosper and implement changes where needed.

10 habits of successful business owners

Managing a business can often resemble a juggling act with a seemingly never-ending laundry list of things to do. With a long-standing history of working with business owners Forvis Mazars advisers have identified several habits common to successful business owners. In this article we have listed the top 10 habits we witness to help you compare and contrast with the view to adding a few more good habits to your schedule.

Payroll tax for medical centres – An uncertain prognosis

383aac90fb37-Article-Payroll-Tax-for-Medical-Centres.jpg

Until last week, the payroll tax prognosis for medical centres seemed to have some clarity. The Revenue Offices in both NSW and Queensland seemed to have settled on policies that payments made by medical centres to health practitioners were subject to payroll tax in qualifying circumstances. However, a segment in an ABC Radio news program in Brisbane last week has left that status in doubt.

Are electric vehicles really tax free?

Salary Packaging a car has always been attractive thanks to concessional valuation rules that provide a ‘statutory formula’ based on 20% of the cost of the car to calculate the value of the car benefit for Fringe Benefits Tax (FBT) purposes. However, salary packaging a zero or low emissions vehicle provides an FBT exemption.

Payroll tax for medical centres – QLD Revenue Office takes the lead

QLD Revenue Office (QRO) is the first Australian State Revenue Authority to fully commit to a compliance position on the application of payroll tax to the complex area of medical centres. In a largely unpublicised move, it has issued a ruling on how it will apply the law to payments made by medical centres to health practitioners.

Mazars 2022 TaxVent calendar

With the festive upon us Mazars Tax Specialists have compiled a TaxVent calendar with 12 Tax Tips to keep in mind this festive season.

Private use of assets held in business

Thinking about using your business / investment entity’s assets for your own benefit? Assets that are held by separate entities but that are being used for your own benefit or enjoyment can potentially attract unwanted tax outcomes.

Director responsibilities and Director Penalty Notices

With the recent shift by the ATO to firmer debt collection actions, we are seeing Director Penalty Notices being issued at a greater rate than seen previously and feel it is important to remind directors of their responsibilities.