FBT 2021: Tax & employee benefits

FBT 2021: Tax & employee benefits

Fringe benefits tax (FBT) is one of Australia’s most disliked taxes because it’s cumbersome and generates a lot of paperwork. The COVID-19 lockdowns have added another layer of complexity as many work patterns and behaviours changed. A fringe benefit is a ‘payment’ to...
Why are some businesses returning JobKeeper to the ATO?

Why are some businesses returning JobKeeper to the ATO?

Super Retail Group – owner of the Supercheap Auto, Rebel, BCF and Macpac brands – handed back $1.7 million in JobKeeper payments in January after releasing a trading update showing sales growth of 23% to December 2020. Toyota announced that it will return...

Sole Trader Granted Access To JobKeeper With Backdated ABN

A sole trader who was able to backdate his ABN has won access to JobKeeper payments in a recent case before the Administrative Appeals Tribunal (AAT).  To be eligible to access JobKeeper as a business participant (for example, as a sole trader), the rules require...
How to sell your business

How to sell your business

I’m often asked the best way to sell a business. There are two key components at play in the sale of a business; structuring the transaction and positioning the business to the market. Both elements are important and can significantly impact your result. ...
The Final Stage Of JobKeeper And How To Access It

The Final Stage Of JobKeeper And How To Access It

The impact of COVID-19 has been felt very differently from region to region. Fortunes vary wildly between business operators subject to ongoing lockdowns and trading impediments to those benefiting from the “new normal”. For those severely impacted by COVID-19,...