by Team Garnet | Jul 20, 2023 | ATO, Tax News
From 1 July 2023, employers have the option to use appropriate alternative statutory evidentiary documents to satisfy FBT record-keeping requirements. Employers that provide certain fringe benefits to their employees can soon use appropriate alternative statutory...
by Team Garnet | Jul 17, 2023 | Small Business, Tax News
Individuals, including sole traders, and partnerships (where at least one of the partners is an individual) can use the cents per kilometre method for car-related work or business expenses. The cents per kilometre method is a simple way to work out how much you can...
by Team Garnet | Jul 8, 2023 | ATO, Small Business
With the advent of a financial year, temporary expensing is now no longer available, but small businesses still have access to the instant asset write-off. What is the instant asset write-off? Eligible businesses can claim an immediate deduction for the business...
by Team Garnet | Jun 29, 2023 | Money
The Buy Now Pay Later (BNPL) market will soon be facing more regulation to bring it in line with other credit products. Late last year, the government released a consultation paper seeking views on options to regulate the Buy Now Pay Later (BNPL) market. The paper...
by Team Garnet | Jun 23, 2023 | ATO, Tax News
This tax time, the ATO is ramping up its data-matching program and capabilities with two new programs. Taxpayers beware, this tax time, the ATO will be using all its data matching capabilities in multiple areas to ensure that individuals are paying the correct amount...
