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Travel for Work? Here’s What You Need to Know About Travel Deductions in 2025

Leave a Comment / Tax, Tax deduction /

Each year, the Australian Taxation Office (ATO) publishes a ruling on what it considers a “reasonable travel allowance.” If your employer pays you a travel allowance and your claim doesn’t exceed this reasonable amount, you generally aren’t required to keep written evidence like receipts or a travel diary. Sounds convenient? Not so fast. In reality, […]

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Plan Smart, Gain More:  Why Smart Tax Planning Before June 30 Pays Off Big Time

Leave a Comment / Tax Planning /

Easter has just passed — a time for family, a bit of rest, and maybe a few too many chocolate eggs. But it also marks a crucial time in the financial calendar: we’re just two months away from the end of the financial year. That makes now the perfect time to start getting your tax

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Big Update: Changes to FBT Record-Keeping Rules for 2025 – A Smarter Way to Report Fringe Benefits

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From 1 April 2024, the Australian Taxation Office (ATO) has introduced new flexibility for employers preparing their 2025 Fringe Benefits Tax (FBT) returns. This change gives businesses a practical opportunity to simplify their record-keeping requirements, saving time and reducing paperwork.  What’s Changed? Previously, employers were required to keep specific declarations or travel diaries from employees

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CGT Rollover Relief Confirmed in AusNet Case – What It Means for Business Restructures

Leave a Comment / Capital Gains Tax (CGT) /

In a significant ruling by the Full Federal Court – AusNet Services Limited v Commissioner of Taxation [2025] FCAFC 21 – the Court has dismissed the taxpayer’s appeal and confirmed that a valid Capital Gains Tax (CGT) rollover election was made under Division 615 of the Income Tax Assessment Act 1997. This case provides valuable

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ATO Responds to Landmark UPE Division 7A Court Case: What It Means for Private Groups and Trusts

Leave a Comment / Business Tax, Tax /

The ATO has officially responded to the Full Federal Court’s recent decision in Commissioner of Taxation v Bendel [2025] FCAFC 15, a ruling that has sparked significant interest across the accounting and private business sectors. This case dealt with the treatment of unpaid present entitlements (UPEs) from trusts to private companies and whether these should

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FBT Car Parking Under Scrutiny: What the Latest Court Decision Means for Employers

Leave a Comment / Tax /

On 6 February 2025, the Federal Court handed down its decision in Toowoomba Regional Council v Commissioner of Taxation [2025] FCA 161, ruling in favour of the taxpayer. The Court found that a parking facility provided by the Council to its employees did not constitute a “commercial parking station” under fringe benefits tax (FBT) law,

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2025 FBT Update: Business Travel vs. LAFHA vs. Relocation – What Employers Need to Know

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The Fringe Benefits Tax (FBT) year for 2025 has ended, and it’s time for employers to review how they’ve treated employee travel expenses — especially with the new relaxed travel diary requirements now in place. Correctly classifying business travel, living away from home (LAFHA), and relocation is crucial. Why? Because each category has different FBT

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R&D Tax Incentive Deadline Approaching – Register by 30 April 2025

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For companies with a 30 June 2024 financial year-end, the deadline to register eligible Research & Development (R&D) activities under the R&D Tax Incentive program is fast approaching. To access this valuable government incentive, you must submit your registration through the Department of Industry, Science and Resources (DISR) customer portal by 11:59pm AEST, Tuesday 30

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2025 FBT Series: What You Need to Know About Loan and Debt Waiver Fringe Benefits

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In this edition of the 2025 FBT Series, we explore how loan fringe benefits and debt waiver fringe benefits may arise and highlight some key considerations for employers to ensure compliance with Fringe Benefits Tax (FBT) obligations relating to these types of benefits. Loan Fringe Benefits What is a loan fringe benefit? A loan fringe

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2025 Federal Budget Explained: Higher Tax Revenue, But Rising Debt – What It Means for You

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Australia’s latest Federal Budget paints a mixed picture—while higher-than-expected tax revenue has strengthened the economy, increased government spending means debt and deficit levels are also on the rise. For individuals, investors and business owners, understanding what’s changing and how to plan ahead is more important than ever. This article breaks down the key takeaways of

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