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November Tax News
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How will FBT impact your staff social functions?
With the spring racing carnival upon us and the festive season fast approaching, many employers will be organising staff social events. It’s important to consider the possible Fringe Benefit Tax (FBT) implications when it comes to staff entertainment...More Info
Tax considerations when buying gifts
At this time of year, many employers are planning on buying gifts for clients and staff. Are you aware of how to handle gifts from a tax perspective?...More Info
ATO crack down on GST compliance
The Tax Office has announced that businesses under-reporting on GST are more likely than ever before to be caught out this year...More Info
ATO to target small business record-keeping using industry benchmarks
The ATO has advised that 121 benchmarks have been published covering 101 industries. As part of the ATO's audit strategy, businesses that are outside the benchmarks for more than a year can expect to be reviewed/audited...More Info
Directors to be held personally liable for unpaid PAYGW and Superannuation
A Bill has just been introduced to Parliament proposing that where Companies have not paid the PAYGW deducted from their employees’ wages and have not paid Superannuation as required (subject to a three month period of grace granted by the proposed legislation), Directors will be automatically personally liable for those outstanding amounts...More Info
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