Tax Deductions

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How Much Property Tax Will I Pay in Australia: A Comprehensive Guide

Attention homeowners and investors in Australia! Property tax might not be the most exciting topic, but it’s one you can’t afford to ignore!  So, we’ve put together this guide to cover the essentials of calculating Australian property tax rates in a way that’s easy to understand. With our expertise, navigating property tax becomes less of…

Who Has To Pay Property Tax in Australia? – Understanding Your Tax Obligations

Welcome to the world of Australian property tax, where understanding your obligations is as important as owning the keys to your property!  This no-nonsense guide cuts through the jargon to give you the essentials: who is responsible for property tax, the method for its calculation, an overview of exemptions and deductions, and strategies for managing…

Are Fringe Benefits Tax Deductible? A Quick Guide

If you’re an employer in Australia, you must pay taxes on reportable fringe benefits provided to your employees, as benefits are considered part of their salary.  However, you can claim an income tax deduction for the cost of offering fringe benefits and the corresponding fringe benefits tax (FBT) you pay. In this guide, we’ll find…

Fringe Benefits Tax Meaning

As an employer in Australia, you’re required to pay fringe benefits tax (FBT) on benefits you provide your employees or their associates, on top of their salary or wages.  Read on for quick and easy-to-understand answers about fringe benefits taxes. Which Fringe Benefits Are Exempt? Some fringe benefits exempt from fringe benefits tax (FBT) can…

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…

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…

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…

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…

How To Avoid Capital Gains Tax on Investment Property

Taxes are unavoidable in life, and it’s no secret that when you sell your investment property you’ll be up for capital gains tax (CGT). You might not be able to avoid paying tax altogether, but can you reduce the amount of tax you pay? You’ll be pleased to know that yes – there are simple…

Property Accounting Basics: What You Need to Know

Are you a property owner? Or perhaps you’re a management company that handles the ins and outs of property for multiple clients? Understanding the property accounting basics is a good starting point to ensure you meet all your obligations. Much like any other business, accounting for an investment property has clear rules and requirements to…