by Canning Tax & Advisory | 21 May 2024 | Tax Compliance
The Fringe Benefits Tax year (FBT) ends on 31 March. We explore the problem areas likely to attract the ATO’s attention. Electric vehicles causing sparks In late 2022, the Government introduced a concession that enables employers to provide some electric vehicles to...
by Canning Tax & Advisory | 21 May 2024 | Business Operations, Business Planning, Tax Compliance
Tax is part of doing business… but being prepared helps leaders know they’re compliant, not paying too much and will avoid unpleasant surprises. Here are some best practices to guide leaders and their Accountants. Here are some guidelines to help business leaders...
by Canning Tax & Advisory | 21 May 2024 | Business Operations, Business Planning, Tax Compliance
Late last year, thousands of taxpayers and their agents were advised by the Australian Taxation Office (ATO) that they had an outstanding historical tax debt. The only problem was, many had no idea that the tax debt existed. The ATO can only release a taxpayer from a...
by Canning Tax & Advisory | 21 May 2024 | Tax Compliance
From 1 July 2024, the amount you can contribute to super will increase. We show you how to take advantage of the change. The amount you can contribute to superannuation will increase on 1 July 2024 from $27,500 to $30,000 for concessional super contributions and from...
by Canning Tax & Advisory | 21 May 2024 | Tax Compliance
The revised stage 3 tax cuts have passed Parliament and will come into effect on 1 July 2024. Before the new tax rates come into effect, check any salary sacrifice agreements to ensure that they will continue to produce the result you are after. This is general...
