by Team Garnet | May 26, 2021 | Business Structures, Small Business, Tax News
The 2021 Fringe Benefits Tax return for the period 1 April 2020 to 31 March 2021 is due soon. For those businesses that prepare their own returns, lodgment of the return can be made up until 25 June 2021 without incurring a failure to lodge on time penalty. Although...
by Team Garnet | May 4, 2021 | Garnet Business Services, Superannuation, Tax News
Did you know you can boost your super with a co-contribution from the government? If you’re a low or middle-income earner, you can take advantage of the government super co-contribution scheme to boost your super. The scheme works like this, for eligible individuals,...
by Team Garnet | Apr 29, 2021 | Investments, Tax News
Many of you have heard of family trusts, but perhaps don’t know too much about their benefits and how they differ from the usual non-fixed trusts. Essentially, a family trust is a trust where the trustee has made a valid family trust election (FTE) for tax purposes....
by Team Garnet | Apr 21, 2021 | Tax News
Did you use to do a lot of travelling for work… before everything changed last year? As we move to a post-COVID world where borders, both domestic and international, start to open back up, the issue of deductibility of certain business travel expenses are again...
by Team Garnet | Mar 31, 2021 | Business Structures, Small Business, Tax News
At the onset of COVID-19 in Australia in March 2020, many businesses moved fast to provide much-needed flexibility to allow their employees to work from home. As the end of the 2020-21 FBT year approaches, the question for employers then becomes, what are the FBT...
