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...

DIRECTOR ID APPLICATION DUE SOON

The Director ID registration process has been in place for some time now. Applications are to be received by November 2022, so if you haven’t applied yet, please do so. I have had a very mixed response amongst clients and associates that have gone through the...