GTB Macro Trends
After 15 years of exceptional global growth it is believed the global economy is heading into a more difficult decade of economic trade.
Important FBT issues
Electric cars still represent a small proportion of the new car market in Australia. With the aim of increasing their take up, the Government has passed legislation that provides a FBT exemption effective from 1 July 2022 for certain no or low emissions vehicles.
Working From Home 2023
If you have genuinely worked from home at any time from 1 July 2022 to 30 June 2023, you may be eligible to use the ATO’s revised fixed-rate (67 cents per hour) method to claim for:
Fringe benefits tax and electric cars
The Bill applies to fringe benefits provided on or after 1 July 2022 for cars that are eligible zero or low emissions vehicles that are first held and used on or after 1 July 2022
Boost for small business on the horizon
Small businesses (with aggregated annual turnover of less than $50 million) will be able to deduct an additional 20 per cent of the cost incurred on business expenses and depreciating assets
Acquiring collectibles inside your SMSF
The golden rule for acquiring assets inside your SMSF is why? To be compliant, your fund must be maintained for the sole purpose of providing retirement benefits to members
Tax reprieve for double taxation of Indian technical support
The tax system currently allows Australia to tax payments made by an Australian customer in relation to technical services provided by an Indian firm, even when the services are provided remotely.