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FBT and Ride Sharing Travel
While the Australian Taxation Office were treating Ride Sharing Vehicles such as Uber as a taxi for GST purposes, the ride sharing vehicles missed out on a useful Fringe Benefits Tax (FBT) exemption for home to work travel which was only provided for registered Taxis.
Expansion of Taxable Payments Reporting System to Road Freight, IT and Security, Investigation and Surveillance Services
Effective from 1 July 2019, Taxable Payments Reporting obligations apply to businesses providing Road Freight, IT and Security, Investigation and Surveillance services, with the first Taxable Payments Report due on 28th August 2020.
Remote area tax concessions due for overhaul: Productivity Commission
Mazars strengthen its indirect tax offering
Mazars in Australia announces the appointment of Indirect Tax Specialist, Stephen Baxter, strengthening its indirect tax offering.
How does your superannuation diversification strategy stack up?
The Australian Taxation Office recently announced that they would be writing to trustees of self managed superannuation funds that they believe could have an investment strategy that does not meet the diversification requirements under regulation 4.09 of the Superannuation Industry (Supervision) Act (SISA).
It is expected that the trustees of approximately 18,000 SMSFs will receive this letter.
It is expected that the trustees of approximately 18,000 SMSFs will receive this letter.
5 Steps to improve business outcomes
Business improvement is a mindset, an overlay on all our activities and many of us need to schedule time to ensure the process gets due attention.
Social Media Policy – a shield and a sword
It’s vital to have a Social Media Policy in place and ensure your employees understand what it means, with social media becoming such an integral part of running a business. Media stories about employees putting their employment at risk through their social media posts seem to have increased in recent months.
How to put more money in your pocket when selling a business
As a business owner contemplating the sale of your business, one of the most important things you need to consider is the tax implications surrounding the transaction.
Up to $50,000 Grant Now available to Small Businesses
The Department of Employment, Small Business and Training has opened the Small Business - Business Growth Fund to help businesses grow and transition from small to medium sized, support and accelerate employment generating activities and improve the sustainability of businesses in general.
So what is a ‘Small’ Business?
Are you confused about the various ‘Small’ Business thresholds, rates and reporting requirements?
It’s little wonder. The Federal Government has created various definitions of what is a small business and that’s just in the tax law! No doubt a myriad of legislation exists around various Governments throughout Australia.
It’s little wonder. The Federal Government has created various definitions of what is a small business and that’s just in the tax law! No doubt a myriad of legislation exists around various Governments throughout Australia.