2021 FBT Return Lodgement Tips
March 4, 2021
The fringe benefits tax (FBT) year ends on 31 March. Employers who have provided benefits to their employees in the past 12 months will need to:
work out which of these benefits attra...
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Contribution cap will increase by $2.5k and $10k for concessional and non-concessional contribution from 1 July 2021
February 25, 2021
The Contribution caps for both concessional and non-concessional contribution increase by $2.5k and $10k for concessional and non-concessional contribution from 1 July 2021.
The new ...
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Victoria: COVID-19 ‘circuit breaker’ lockdown support
February 25, 2021
Under the Business Costs Assistance Program, eligible small businesses, including sole traders, with an annual payroll of up to $3 million can receive a one-off grant of $2000, whether they...
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NSW releases build-to-rent tax concessions
February 18, 2021
The NSW Government has set out new provisions for build-to-rent housing, and tax concessions for build-to-rent property.
NSW Treasurer Dominic Perrottet says, “We’ve levelled the pl...
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NSW extends stamp duty relief
February 18, 2021
The NSW Government has extended stamp duty relief for eligible purchasers until 31 July 2021. Under the temporary changes the cap on the value of new homes at which stamp duty exemptions a...
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NSW releases build-to-rent tax concessions
February 18, 2021
The NSW Government has set out new provisions for build-to-rent housing, and tax concessions for build-to-rent property.
NSW Treasurer Dominic Perrottet says, “We’ve levelled the pl...
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Tax Rulings and Practical Compliance Guidelines Related to Employees have been issued:
February 18, 2021
The following Tax Rulings and Practical Compliance Guidelines have been issued:
TR 2021/1 — Income tax: when are deductions allowed for employees’ transport expenses?
TR 202...
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JobKeeper still open to new and existing participants
February 18, 2021
JobKeeper is still open to new and existing participants until the end of the March 2021.
The ATO has advised that employers looking to enrol in JobKeeper should phone the ATO first on 1...
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Closely held payees: 3 STP options for small employers
February 11, 2021
The ATO has released details of the 3 options that small employers with closely held payees will have for STP reporting purposes from 1 July 2021.
Small employers (ie those with 19 or f...
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FBT not payable on COVID-19 protective items provided to staff
February 4, 2021
The ATO has confirmed items such as gloves, masks, sanitisers and anti-bacterial spray given to employees to help protect them from contracting COVID-19 while at work are exempt from FBT u...
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