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Tax

Fringe Benefits Tax Also Known As FBT

A Short Guide to Fringe Benefits Tax (FBT) for Small Business

While income tax and company tax seem to be front of mind for most businesses, fringe benefits tax (FBT) is applicable when employers provide certain benefits to their employees or associates of employees (usually family members connected to their employment). Let’s look at the basics of fringe benefits tax.
Register For GST

When Should You Register for GST?

New and established small businesses need to consider if and when to register for GST. Small businesses that are below the $75,000 threshold for GST registration will need to weigh the pros and cons of registering.
ATO Garnishee Notice Blitz

How to Avoid the ATO Garnishee Notice Blitz

Did you hear the ATO’s cracking down on tax debt harder than ever? Their latest approach has been to increase the number of garnishee notices they issue to business owners with outstanding tax debt. That means they could withdraw cash directly from your bank account to recover debts. Here’s what you need to know about the crackdown, and how to avoid it.
ATO Debt

ATO Debt – What You Need to Know When You Owe

For many businesses, tax debt owed to the ATO can be a serious issue. As of mid-2018, the ATO had a collectable debt of $19 billion, 70% of which consisted of debt owed by small to medium enterprises. This means that SMEs owed over $13 billion to the ATO.
How To Get Your Business Tax-ready

How to Get Your Business Tax-Ready

Having entered a new financial year, it’s a good time to start thinking about your tax obligations and available concessions so you can avoid any compliance issues and save time and money. Here are a few tips to help you prepare for tax time.

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