AFS NEWS | Your partners in success
The Government has released a proposal to increase the thresholds for determining what constitutes a large proprietary company under the Corporations Act 2001.
Salary packaging is where an employer offers their employees the opportunity to pay for certain goods and services out of their pre-tax income. These goods and services often include things such as computers, cars, health insurance, childcare and superannuation contributions (commonly known as salary sacrificing). By paying for these goods and services before tax is […]
Nobody wants to attract unnecessary scrutiny from the Australian Taxation Office (ATO). Tax audits can be stressful and often very costly, and are increasingly well targeted now that the ATO’s data matching capabilities are making it easier to identify any discrepancies. The most effective way to avoid an audit is to do the right thing […]
Since 1 July 2018, buyers of new residential premises or potential residential land may now be required to withhold an amount from the purchase price and pay that amount to the Australia Taxation Office (ATO) on or before property settlement.
We welcome October and farewell football fever as we enter the final stretch towards Christmas. It’s traditionally a busy time for households and on the business and economic scene, as we prepare for the end of another year.
Undeniably, the popularity of utes in Australia continues to grow. Many businesses and individuals believe that owning a ute, rather than a car, can provide significant tax advantages, in particular to Fringe Benefits Tax (FBT).