Fringe Benefits Tax - 2019

Fringe Benefits Tax (FBT) is a tax payable by employers for benefits paid to an employee (or an employee's associate e.g. a family member) in place of salary or wages. This is separate to income tax and is calculated on the taxable value of the fringe benefits provided. Trade businesses in particular usually have vehicles or other assets that are used by employees for private purposes. It is important for business owners to identify this usage and report to the Australian Taxation Office (ATO). We will prepare your FBT returns for you and lodge them with the ATO.

In ATO compliance, tax planning, Compliance, FBT

Business Motor Vehicles - common questions and Issues

Car Financing

The most common questions we receive from clients in regard to purchasing a vehicle for their business are:

In deductions, small business, tax planning, Compliance

2 Steps that can ensure that your Trade business is compliant to QBCC laws

At Tradies Accountant we have been providing additional services to clients such as upgrading their licence category and helping resolve QBCC audits. We have found that some of the business owners are unaware of their requirements regarding holding a QBCC licence. As a trade business owner and a licence holder, you need to make sure you are compliant with all QBCC licence requirements. Explained below are the two main requirements imposed by QBCC:

In Value add, business advice, preparation, industry update, Compliance, QBCC