Tax

With Christmas approaching fast, Brad Callaughan looks at the Fringe Benefit Taxes payable on gifts to employees, suppliers and clients.

“Fringe Benefits Tax is a tricky subject, and if not understood and addressed before you spend that money it could leave you a large hole in your pocket from the FBT payable.”

As demand grows for small business owners to learn more about Self Managed Super Funds, Dynamic Business has discovered an informative seminar that’s being re-run in two additional locations to benefit a wider range of Sydney-based readers.

The Gillard Government’s carbon tax legislation has passed through Parliament, making it certain a tax of $23 per tonne of carbon on the country’s 500 worst polluters will begin in 2012, and businesses aren’t happy.

Local food and grocery manufacturers will see their operating profits slide by an average 4.4 percent in 2012-13 as a result of the carbon tax, according to the Australian Food and Grocery Council (AFGC).

SMEs continue to see insolvency as their biggest concern, with experts calling on the Government to implement tax breaks for small businesses at today’s Tax Forum.

After replacing the Research and Development Tax Concession in July, the Research and Development Tax incentive officially became law early this month.

With the Federal Government’s October Tax Forum kicking off soon, a new study by MYOB found 71 percent of local business owners want the Business Activity Statement (BAS) simplified and 76 percent want GST rules reviewed. In light of this, MYOB has released an online petition for business owners to send a clear message to the government to introduce legislation that makes life easier for SMEs.

The volatility of the share market has left many of us with not-so-super feelings about our superannuation. As a small business owner however, there are some easy steps you can take to gain control of your Super, and it’ll have knock on benefits for your business too.

The Tax Institute has unveiled its first iPad app, designed to help tax professionals to keep up to date with changes made to taxation legislation.

The services of a great accountant can be invaluable to your business, but how do you know who’ll be the right fit? Dynamic Business has found a must-attend Small Business September seminar, offering free advice to help you choose a good accountant.

Recent changes made to the Fringe Benefits Tax (FBT) invites SMBs to take advantage of novated leasing, which could help retain staff, reduce administrative burdens and save time.

Small business owners on Queensland’s Sunshine Coast are invited to attend free one-on-one information sessions, run by the Australian Taxation Office (ATO), to assist them in staying on track with tax and super obligations.