A significant shift in Australia’s superannuation system is on the horizon, with Division 296 set to take effect from 1 July 2026. While it will only affect a relatively small number of individuals, the impact for those within scope can be considerable - making...
As the Fringe Benefits Tax (FBT) year draws to a close on 31 March 2026, now is the ideal time for businesses to review any benefits provided to employees during the year and ensure the correct records are in place. FBT can apply to a range of non-salary benefits...
Australia is preparing for the most significant reform to its payments and financial systems in more than two decades. In late 2025, Treasury released the first draft of new legislation under the Payments Systems Modernisation Bill, often referred to as Australia’s...
At first glance, Warwick’s business painted the picture of success. A busy testing and research facility, buzzing with activity, consistently delivering on client needs. But behind the scenes? The reality told a different story. Warwick was drowning. He was clocking...
In our last article on FBT, we sought to identify all the hidden (and not so hidden) benefits that you might be giving your employees that could attract FBT. Having considered that, you’ve arrived at the conclusion that maybe you do have a FBT liability – so, now...
It's nearly new years! Wait, 1st Jan? No, not that new years. New financial year? No, not that one either. Chinese new year? Um, no. 1st April is actually a new Fringe Benefits Tax (FBT) year. Yep, tax season isn’t only limited to 1 July. Some businesses deliberately...
The Christmas/New Year period often gives us a chance to slow down a little and catch up on the things we have been meaning to do all year. This can include brushing up on all those regulatory requirements involved in running a business, just to make sure you stay on...
As the holiday season approaches and Christmas celebrations kick off, it’s important not to let tax considerations overshadow the spirit of generosity. Showing appreciation to your employees and clients through festive gestures is a wonderful way to end the year on a...
Managing payroll has become a critical and increasingly complex aspect of running a business, especially with evolving legislation and diverse employment arrangements. Mistakes in payroll, whether intentional or not, can lead to severe consequences for businesses,...
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