Category

Compliance

Electronic devices - FBT Exempt

FBT: What’s new for 2017?

By | Business, Compliance, FBT, Tax Planning | No Comments

Its coming up to that time of year again, the end of the Fringe Benefits Tax (FBT) year. It may be the least exciting of the of our ‘New Years’ that we celebrate, but lets have a look at whats new this FBT Year. The Rate The biggest impact to FBT, which carries over from the previous FBT year, is the continued application of a 49% rate. This is due to revert to 47% on April 1, 2017 (therefore applying for the 2017-18 FBT year…

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Sharing Economy

Tax and the sharing economy

By | Business, Compliance, Taxation | No Comments

The concept of a “sharing economy” has been around for long enough now to have had a very real impact on how our financial transactions are conducted. As for the taxation treatment of these transactions, the ATO has found it necessary to provide guidance. By now, most people will have realised that the “sharing” part of the concept does not refer to an absence of any monetary exchange, but rather to the use and access of shared physical or human resources or assets. The means…

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Directors Responsibilities

With great power comes great responsibility – Directors Responsibilities

By | Company, Compliance, Starting a business, Structure | No Comments

There is a classic saying that goes: “With great power comes great responsibility”. When it comes to life in the corporate world, that famous old quote rings true for company directors. Generally speaking, members of a company are commonly referred to as “shareholders”, and they own the company. Directors, on the other hand, are responsible for the management of the company’s business activities. As a director, you hold a high level of power when it comes to making these big decisions on behalf of the…

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