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...

TO PLAN OR NOT TO PLAN

The famous quote from Benjamin Franklin “By failing to plan, you are preparing to fail”, was relevant to a client of mine recently. Not for the first time have I heard “I have a brilliant idea” or  “a great opportunity has come my way”! With all the enthusiasm in...

DO YOU KNOW HOW THE FIRST QUARTER WENT?

I dedicated a chapter from my book to “Do I know how my business is performing”. The question is as prevalent today as ever before. The changing landscape of not only the economy but also technology and the way people are doing business is impacting the bottom line of...