Gifts and FBT
Gifts provided to employees or their associates — that gold, frankincense and myrrh you picked up at the Black Friday sales — will typically constitute a property fringe benefit and therefore are subject to FBT unless the minor benefit exemption applies. Gifts, and indeed all benefits associated with a Christmas function, should be considered separately to […]
Main residence and foreign residents
The Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures No. 2) Bill 2018 which lapsed on the calling of the Federal election, was reintroduced into the House of Reps on 23 October 2019 (with slightly changed name) – with one major amendment.
Common rental property tax mistakes to avoid
The ATO is reminding rental property owners that each year it sees some fairly common mistakes being made with the claims made, and the tax outcomes that result, in regard to investment properties. It has therefore released a list of the top 10 stumbles, and how best to avoid them.