Do you currently hold or are you considering investing in cryptocurrency? While cryptocurrencies have attracted the attention of investors and traders, they have also caught the attention of the Australian Taxation Office (ATO) who are monitoring this area with high level of interest.
With Christmas just around the corner, many business owners are busy planning gifts and functions as a way to thank employees for their hard work during the year. We are often asked how Fringe Benefits Tax (FBT) and Income Tax deductions apply to benefits such as Christmas Parties, gifts and bonuses.
Technology is central to Australia’s economic growth. While it brings significant opportunity for growth and efficiency, it also poses challenges for businesses to keep safe from cyber threats.
The Australian Taxation Office (ATO) has released new draft guidelines for the private use of Fringe Benefits Tax (FBT) exempt vehicles.
Self-managed super funds (SMSFs) have new event-based reporting obligations from 1 July 2018 due to the transfer balance cap measures and event-based reporting framework.
ATO Assistant Commissioner, Kath Anderson, has announced a crackdown on work-related expense claims this tax time. The increased scrutiny comes as a result of the first ever research into the income tax gap for individuals.
The coalition has delivered their 5th Federal Budget and this year, Scott Morrison's theme of “living within their means” was focused on delivering income tax cuts, providing essential services and returning to a surplus a year earlier than previously outlined.