by MAYBERRY_Admin | Aug 18, 2022 | Business, News, Professional Staff
The ATO advises that it will generally accept that an employee is travelling (overnight) on work, where all of the following circumstances apply: The employer pays an allowance to the employee or pays or reimburses accommodation and meals expenses for the employee The...
by MAYBERRY_Admin | Jun 14, 2022 | Business, Business Tax, Tax Tips
A FBT motor vehicle employee declaration is a statement written by the employee outlining the fringe benefits they have received, and the percentage of business use and applicable reduction allowed, under the otherwise deductible rule. A car fringe benefit only arises...
by MAYBERRY_Admin | Dec 15, 2021 | Business, News, SMSF, Tax Tips
Record Keeping for Cryptocurrency You need to keep the following records in relation to your cryptocurrency transactions including: the date of the transactions, the value of the cryptocurrency in Australian dollars at the time of the transaction (which can be taken...
by MAYBERRY_Admin | Nov 12, 2021 | Business, Business Tax, News, Tax Tips
For your generosity to be a legitimate tax deduction, the donation needs to meet the following conditions: The recipient must have the status of Deductible Gift Recipient (DGR). If you are unsure of the organisation’s DGR status, you can check it here:...
by MAYBERRY_Admin | Nov 12, 2021 | Business, Business Tax, News, Tax Tips
In the next few weeks, many workplaces will be throwing their annual Christmas party for themselves and their employees. Nothing screams “Party!” quite like Fringe Benefits Tax legislation, so here’s a quick overview of the FBT rules for employers to keep in mind as...
by MAYBERRY_Admin | Oct 15, 2021 | Business, News
Jobs Plus is a program to generate new employment positions and provide tax relief and additional support for expanding businesses in NSW. The program is designed to support Australian and international companies looking to start or expand business operations in NSW....