FBT 2023: Updates and problem areas
The Fringe Benefits Tax (FBT) year ends on 31 March. We’ve outlined the hot spots for employers and employees.
Good records save small businesses
This article illustrates how keeping good tax records can save time and money, and ultimately contribute to the profitability of the business. It outlines the various benefits to small business and reminds your readers that the ATO is not lenient when it comes to mistakes. – Good records save small businesses.
Is your inner entrepreneur calling?
With a shift towards working from home and a boom in new small businesses starting up, this article discusses valuable points that new entrepreneurs need to consider before rushing into their new venture. We cover everything from business plans and funding support, to registering your business and acquiring insurance. – Is your inner entrepreneur calling.
The Pandemic Productivity Gap
A recent article published in the Harvard Business Review by Bain & Co suggests that the pandemic has widened the productivity gap between top performing companies and others stating, “Some have remained remarkably productive during the Covid-era, capitalizing on the latest technology to collaborate effectively and efficiently. Most, however, are less productive now than they were 12 months ago. The key difference between the best and the rest is how successful they were at managing the scarce time, talent, and energy of their workforces before Covid-19.”
FBT 2021: Tax & Employee Benefits
Fringe benefits tax (FBT) is one of Australia’s most disliked taxes because it’s cumbersome and generates a lot of paperwork. The COVID-19 lockdowns have added another layer of complexity as many work patterns and behaviours changed.