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Accounting for Home Builders

Could you build a structurally sound house without building plans? Impossible!  The same goes for your building business- running a successful company without proper accounting is impossible!  The construction industry contributed to 9% of all goods and services produced in Australia in 2022. This statistic highlights the industry’s significant role in the economy, meaning there’s …

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What Are Reportable Fringe Benefits? A Guide for Employers

As an employer, it’s essential that you understand the answer to “what are reportable fringe benefits in Australia?” to ensure you’re paying all necessary tax. In line with the ATO’s guidelines, there are specific rules and regulations for paying fringe benefits tax. We cover everything you need to know in our quick-start guide for employers, …

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What Are Exempt Reportable Fringe Benefits? A Guide for Employers

If you’re an employer, you’ve likely already explored fringe benefits in some capacity. But if you want to know all the details of ‘what is exempt reportable fringe benefits?’ in one location, our handy guide is an excellent place to start. By understanding what is exempt from reportable fringe benefits Centrelink, it’s a far quicker …

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Fringe Benefits & Cars: A Guide for Employers

It is a common practice for organisations to allow employees to use business vehicles for private purposes. This is considered an additional benefit received by the employee that differs from their salary or wage. Such additional benefits are known as fringe benefits, and employers are entitled to pay tax on them as of 1986. In …

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Who Pays Fringe Benefits Tax?

Fringe benefits tax (FBT) is paid by employers on certain benefits they provide to employees. These benefits include non-salary ‘payments’ to employees – such as gym membership payments, discounted loans, or reimbursements for expenses incurred by the employee. Sometimes these benefits may also be given to the employee’s family or other associates. FBT is payable …

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The Fringe Benefits Tax Assessment Act of 1986 & How It Affects You

The Australian government passed the Fringe Benefits Tax Assessment Act in 1986 to make sure that employers pay the right amount of taxes when they give their workers certain benefits.  This act is important for employers because it spells out the rules and regulations for providing these benefits and makes them pay their fair share …

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What Is a Fringe Benefit? A Guide

A fringe benefit is a form of compensation provided to employees that goes beyond their normal salary or wages. These benefits can include things like health and dental insurance, life insurance, disability insurance, housing allowances, education assistance programs, childcare programs, employee discounts, and more. Fringe benefits are usually provided by employers to attract and retain …

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New Paid Family and Domestic Violence Leave: What You Need To Know

Are you an employer in Australia who is looking to understand the new Paid Family and Domestic Violence Leave policy?  This new policy, which is part of the Fair Work Amendment (Paid Family and Domestic Violence Leave) Bill 2022, is set to go into effect in 2023.  In this article, we’ll explain what you need …

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What Percentage of Tax Do I Pay? FAQs & Answers

Knowing the answer to ‘what percentage of tax do I pay in Australia?’ is key to ensuring you meet your legal obligations and responsibilities. If you’re curious about ‘how do I know what percentage of tax I pay?’ as a business owner or you’re interested in working in Australia as a foreign resident, we’ve covered …

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B2B vs B2C vs B2B2C – What is the difference?

If you run a business, online blog, or work in any industry where you commonly deal with business clients, you’ve probably heard of these three terms—B2B, B2C, and B2B2C. On the surface, this terminology may sound complicated and confusing. But thankfully, they’re all simpler than you may think. In this article, we’ll walk you through …

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