FBT and depreciation limits on vehicles other than cars

As we farewell another Fringe Benefits Tax (FBT) year we often hear questions around private use of vehicles and whether larger ‘utes’ are exempt from FBT, such as Chevrolet Silverados, Dodge Rams, Ford F150s and the like. Read more

Client update | April 2019

On the global front, growing concerns about a slowdown in economic growth preoccupied financial markets in March. The US Federal Reserve now forecasts no rate rises in 2019 instead of the two it previously planned. US 10 year government bond yields fell below three month yields on the news. This ‘inverted’ yield curve is viewed by markets as an historical predictor of recession.

In Australia, economic growth slowed to 0.2% in the December quarter, for an annual rate of 2.3%. This was reflected in the more cautious mood of business and consumers. Both the weekly ANZ Roy Morgan consumer confidence rating and the monthly Westpac Melbourne Institute survey of consumer sentiment fell below their long term average in March.

Single Touch Payroll – get ready!

Over the last 18 months we have been bringing information and reminders to you about STP for all employers.

STP is a payday reporting arrangement where employers need to send tax and superannuation information to the ATO from their payroll or accounting software each time they pay their employees.

In less than three months these requirements will be compulsory for all employers, regardless of whether you have one employee or 50 employees. Please don’t hesitate to call us if you have any questions. Ask for Kieren Henderson on 03 5443 0344.

 

Click here to read the newsletter

Also in this edition:

  • AFS Celebrates business milestone
  • Economic update
  • Removed assets providing ongoing value for property owners
  • Time running out for unpaid superannuation by employers
  • ATO mail now sent to myGov inbox
  • Access to prior year losses now made easier
  • The future of franking credits
  • 2019-2020 Federal Budget summary
  • Team news including seminars, International Women’s Day, Deakin University Expo.

Click here to read the full newsletter.

 

 

Power imbalance between car dealers and manufacturers in review

Automotive dealers are calling on the federal government to step in to address a power imbalance between large car manufacturers and independent auto retailers amid concern businesses are resorting to desperate measures to stay afloat. Read more