Creating a plan before the end of financial year, 30 June 2018, is crucial to ensure you are reducing your taxation liability as much as legally possible. Make sure you get in early and book an appointment with one of the team to see if there are any strategies to reduce your tax exposure.
Fringe Benefits Tax (FBT) accounts for personal usage of assets within your business. 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.
Looking over your cash flow, you’ll notice one expense popping up over and over again, and it’s a big number. Without it your business can’t grow and you can’t get a break! Whether you pay wages weekly, fortnightly or monthly, if you are not truly aware of where these dollars are going, it can hit your back pocket hard.