Fringe benefits tax, or FBT, can be easy to overlook because it applies to benefits provided outside ordinary salary and wages. A staff perk, reimbursement or salary packaging arrangement may feel routine, but it can create an FBT obligation for the employer. For Australian employers, getting FBT right matters because the tax can [...]
Many Australian business owners reach a point where operating as a sole trader no longer feels flexible enough. They may want to involve family members, build wealth outside their personal name, manage commercial risk more deliberately or prepare for a future sale. A discretionary trading trust can be useful in the right circumstances. [...]
Crypto can be bought, sold, swapped, spent, staked, received as a reward or held through an SMSF. Each action can have a different tax outcome, and the tax result is not always limited to the moment you convert crypto back into Australian dollars. For Australian investors and business owners, the key question is [...]
Selling a former home that has been rented out can create a significant capital gains tax (CGT) question. The common concern is whether the “six-year rule” can protect the sale from CGT, particularly when you have moved for work, upgraded to another home or held the property as a long-term rental. The rule [...]
Profit does not improve simply because more money is coming through the door. A firm can be busy, win new work and still feel constant pressure on cash, margins and the owner’s time. The real question is whether the business is consistently converting revenue into sustainable profit, while meeting its tax, employment and [...]
Payroll tax can be an unexpected cost for growing businesses. You may start with a small team, then add employees, contractors, bonuses, superannuation and interstate staff, only to find that your payroll tax position is more complex than simply comparing salaries against a threshold. The key point is that payroll tax is a [...]
Businesses often use more than one labour hire provider to find specialist skills, manage regional placements or meet a client’s workforce needs. While the commercial arrangement may appear straightforward, a chain of on-hire can create payroll tax exposure if the parties do not clearly identify who is responsible for reporting the relevant wages. [...]
Payroll tax grouping is one of the areas where a business can be compliant in its own records, yet still face an unexpected liability because of its links with another entity. A separate company, trust, partnership or sole trader business may look independent commercially, but payroll tax law can treat the entities as [...]
Payroll tax can become a meaningful cost and compliance obligation well before a business feels “large”. For Victorian employers, the key question is not simply how much salary you pay. You also need to consider superannuation, certain contractor payments, fringe benefits, related entities and wages paid outside Victoria. Understanding the rules early can [...]
Buying a Victorian property often raises one urgent question: how much stamp duty will be payable, and can it be reduced? The answer can materially affect how much cash you need at settlement, particularly where you are also funding a deposit, legal costs, lender fees and moving expenses. In Victoria, stamp duty is [...]
Victorian land tax can be an unwelcome surprise for property owners, particularly where investment properties, holiday homes, commercial premises, vacant land or trust-held properties are involved. It is an annual state tax, and the amount can change significantly depending on the land’s site value, ownership structure, exemptions and whether special surcharges apply. The [...]
Buying, living in, renting out or selling a home can have major capital gains tax consequences. For many Australians, the principal place of residence exemption can mean a capital gain on the family home is disregarded. However, the result can change quickly when a property is rented out, used for a business, held [...]
A family trust can be a useful structure for holding investments, running a business or managing family wealth. The appeal is usually flexibility, but the real value comes from matching the trust deed, trustee decisions and tax administration to the family’s circumstances. For families and small business owners, a properly run discretionary trust [...]
Leaving Australia after working on a temporary visa often raises an important question: what happens to the superannuation that was paid into your fund while you were here? For many former temporary residents, a departing Australia superannuation payment, commonly called a DASP, may allow them to claim their Australian super after they have [...]
A Business Activity Statement, commonly called a BAS, is one of the regular reporting obligations that can make running a business feel more complicated than it needs to be. If you are registered for GST, employ people, make PAYG instalments or have other tax obligations, your BAS brings those amounts together for reporting [...]