While the ATO knows most small businesses try to report correctly, it understands that mistakes can happen. The ATO advises taxpayers that it is important to get the following ‘basics’ right: using digital tools and business software to help track…

Employers who do provide entertainment-related fringe benefits should keep records detailing all of this information so they can calculate their taxable value.

From 1 April 2025, a plug-in hybrid electric vehicle (‘PHEV’) will not be considered a zero or low emissions vehicle under fringe benefits tax (‘FBT’) law and will not be eligible for the electric car FBT exemption. However, an employer…

The digital identity app 'myGovID' has changed its name to 'myID'. While the name has changed, the login and security will not change. The new name aims to reduce the confusion between myGovID and myGov. myGovID changes Taxpayers who have...

Individual taxpayers can take the following steps right now to ensure the correct amount of tax is being put aside throughout the year: let their employer know if they have a study or training support loan, such as HECS or...