The Rules for Trust Distributions are Changing
The Rules for Trust Distributions are Changing The Australian Taxation Office (ATO) has released a package of draft advice and guidance that sets out tax treatment of: Trust entitlements arising out of reimbursement agreements Unpaid present entitlements of trust...
Fringe Benefits Tax Insights for Non-For-Profit Organisations
Fringe Benefits Tax Insights for Non-For-Profit Organisations Not-for-profit (NFP) organisations can use the Fringe Benefits Tax (FBT) concessions to provide tax advantaged salaries to their employees. The FBT Concessions are essential in allowing NFPs to be able to...
Your relationship with your accountant should be one of the best you have
Your relationship with your accountant should be one of the best you have It’s Valentine’s Day, so you might be celebrating the relationships in your life: with your significant other, your friends, or your fluffy companion. But you might be overlooking other...
Everything you need to know about Single Touch Payroll Phase 2
Everything you need to know about Single Touch Payroll Phase 2 The final part of Phase 1 of the ATO’s Single Touch Payroll (STP) Reporting requirements came into effect from 1 July 2021. Now we are getting ready for Phase 2. Phase 1 was a way of reporting employees’...
How to Apply for Your Director ID
How to Apply for Your Director ID The Australian Securities and Investments Commission has implemented a new legal requirement for all company directors to hold a Director ID. Each director must only apply for one director ID, even if you are a director of multiple...
