Increasing Superannuation Contributions

Increasing Superannuation Contributions

The maximum concessional (or tax deductible) contributions an eligible individual can make each year without breaching the cap amount is $25,000.  Many salary or wage earners will not reach this level. Salary sacrificing additional superannuation contributions offers...
FBT and Taxi Travel

FBT and Taxi Travel

On 27 September 2017 the Australian Taxation Office (ATO) issued discussion paper  TPD 2017/2  for public consultation on the interpretation of ‘taxi’ for Fringe Benefits Tax (FBT) and the taxi travel exemption. After consultation, and considering administrative...
2019 Federal Budget Update

2019 Federal Budget Update

Small Business Instant asset write off threshold increased from $25,000 to $30,000 per eligible asset. Eligibility also expanded to include medium-sized business with a turnover of up to $50 million per annum. This is effective from Budget night (2 April 2019) until...
Do You Need To Lodge A Tax Payments Annual Report?

Do You Need To Lodge A Tax Payments Annual Report?

Ensuring that you have managed your finances correctly and that you are paying the right amount of tax is important for any business.  However, what might also be concerning and often lesser known is that you may also need to lodge a Taxable Payments Annual Report. ...