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: What the AusNet Decision Means for You Read More »
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 Update: Key Insights from the Division 7A Case Read More »
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 Scrutiny and What the Court Ruling Means Read More »
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: Travel, LAFHA & Relocation Rules Explained Read More »
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 Approaches on 30 April 2025 Read More »
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
Loan Fringe Benefit & Debt Waiver FBT Rules 2025 Read More »
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: Higher Revenue and Rising Debt Explained Read More »
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
Federal Budget 2025–26: Guide For You And Your Business Read More »
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 and New Record Rules Read More »
Missed Your Tax Filing? Understand the Consequences and Take Action Now It’s easy for tax filing to slip through the cracks, but failing to file your tax return for an extended period can lead to serious financial and legal consequences. The Australian Taxation Office (ATO) does not simply overlook unfiled tax returns—the longer you wait,
Unfiled Tax Returns: Key Steps to Fix and Stay Compliant Read More »