Are You Frustrated With Your Tax Bill

A common theme among new clients who come to MCA is that people are shocked when they do their taxes for the year. They come looking for a miracle cure. At MCA, we cannot offer a miracle cure, but we can plan before 30 June to estimate the tax for the year and develop...

ELECTRIC VEHICLES AND FBT

I have written about electric vehicles and the FBT impact which is nil. No FBT return is required to be lodged or payable for electric vehicles. Though I must remind employers that you do have to notify the Fringe Benefit on an employee’s PAYG Summary even...

CHRISTMAS AND TAX IMPLICATIONS

A client reminded me that Christmas is fast approaching. Questions followed about what they can do for their staff. Below is a summary of the Fringe Benefits Tax (FBT) consequences of Christmas parties and gifts: CHRISTMAS PARTIES Christmas parties are considered a...