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

Leave a Comment / Tax /

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 […]

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

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

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

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

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

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,

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

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

Leave a Comment / Tax /

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

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

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

Leave a Comment / Tax /

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

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

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

Leave a Comment / Tax /

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

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

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

Leave a Comment / Tax /

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

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

Australian Federal Budget 2025-2026: What It Means for You and Your Business

Leave a Comment / Uncategorised /

How Will the Federal Budget 2025 Impact Your Business? On 25 March 2025, Federal Treasurer Dr. Jim Chalmers delivered the 2025-26 Federal Budget—a pre-election budget shaped by the upcoming Federal election deadline of 17 May 2025. As expected, cost-of-living relief, Medicare funding, and tax adjustments were the main highlights, with a mix of new tax

Australian Federal Budget 2025-2026: What It Means for You and Your Business Read More »

Preparing for the 2025 FBT Season – Navigating New Record-Keeping Requirements and Ensuring Compliance

Leave a Comment / Tax /

As we approach the 2025 Fringe Benefits Tax (FBT) season, employers must start planning their annual FBT return process to ensure compliance while minimizing tax burdens. This year, the Australian Taxation Office (ATO) has introduced new record-keeping requirements, effective from 1 April 2024, aimed at simplifying compliance and reducing administrative burdens. For businesses and investors,

Preparing for the 2025 FBT Season – Navigating New Record-Keeping Requirements and Ensuring Compliance Read More »

Scroll to Top