Fringe Benefits Tax (FBT) In the Age of Covid-19
A fringe benefit tax (FBT) is paid by employers who provide certain benefits to their employees or their employees family or friends. Key examples of fringe benefits include; allowing an employee to use a car for work for private purpose unrelated to work, paying for an employee’s gym membership, providing entertainment by giving away free […]
Tax Deduction Claims For Education & Training Could Soon Be Widened
Australian taxpayers might soon be able to claim deductions for training and education programs unrelated to their chosen area of profession. Changes surrounding FBT exemptions for retraining and reskilling included in the recent federal budget have been implemented to encourage Australian workers to upgrade their skillset to make themselves more desirable to employers for a […]
Getting A Licence to Legally Distil Alcohol In Australia
For Australians wanting to distil their own alcohol, it is important to know that you have to pay tax on the alcohol you produce. Similar to driving a car, an individual must obtain a licence if they wish to distil alcohol. A licence is issued by The Australian Tax Office and can be obtained for […]
Tax Deductions for Self-Education Expenses
Australian workers are currently able to claim tax deductions on self-education expenses when the education activities are directly connected to the income arising from their current employment activities. To be tax deductable the self-education must also maintain or improve the specific skills or knowledge that is required in your current work activities. Furthermore, the self-education […]
What the Election Means for Business
In my experience the next two months will be tough for small retailers and hospitality businesses as the uncertainty that the election process brings will make it harder to get customers to spend.
