Category Archives: Tax

Keeping the economy moving

Keeping the economy moving

– RBA using low interest rates & easy money The Morrison Government’s mind-bogglingly large support packages to get Australians through the COVID-19 shutdown have dominated headlines, and rightly so. Only months ago, the Australian economy was in relatively good shape and headed for a Budget surplus. Behind the scenes, the Reserve Bank of Australia (RBA) […]

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Jobkeeper Stimulus

Jobkeeper Stimulus

The information below is based on publicly available information from the legislation, explanatory memorandum, and the fact sheets and the ATO website.  The JobKeeper or wage subsidy payment has passed both houses and been given royal assent.  The treasury has released the rules for this payment and this article is a brief overview of the legislation and rules.  As everyone’s […]

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FBT hot spots

FBT hot spots

With the start of the Fringe Benefits Tax year looming on 1 April, businesses are being urged to review their Fringe Benefits Tax (FBT) position. The ATO’s top FBT problem areas Motor vehicle fringe benefits – failing to report motor vehicle fringe benefits, incorrectly applying exemptions for vehicles or incorrectly claiming reductions for these benefits […]

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