Fringe Benefits Tax
ATO contact regarding business cars and Fringe Benefits Tax (FBT) The ATO has recently advised that it will be contacting taxpayers (and tax agents on behalf of their clients) that have been identified as having cars registered in their business name who have not lodged an FBT return. The ATO has reminded businesses that: a […]
ATO SMS text messages
ATO to send text messages if bank account details incorrect The ATO has advised that it will send SMS text messages directly to taxpayers where incorrect bank account details were included in their tax returns and they were entitled to a refund. The SMS will advise impacted taxpayers that: their refund cannot be processed due […]
Company tax
The Company Tax Rate Saga In the last week of the August Parliamentary sittings, the controversial corporate tax cut plan for the big end of town (i.e. companies with an aggregated turnover of over $50 million) was defeated. In addition, long-awaited legislation impacting the company tax and franking rates for small to medium companies (i.e. […]