by Team Garnet | Sep 30, 2021 | Business Structures, Small Business, Superannuation
There’ll soon be an extra step for employers that hire new employees in relation to the recent stapled super fund changes. Employers beware, from 1 November 2021, if you’re hiring new employees, there may be an extra step involved in determining which super fund...
by Team Garnet | Sep 24, 2021 | Business Structures, Small Business
If you’re closing or selling your business, don’t forget about the GST obligations you’ll have to meet including deregistration and lodgment of final returns. If the current prolonged lockdown and economic conditions has prompted you to sell or close your business,...
by Team Garnet | Jun 23, 2021 | Business Structures, Small Business, Tax News
Get ready, tax time 2021 is fast approaching, the ATO noted it will be focusing on work-related expenses such as car and travel expenses. While the ATO annual statistics releases are usually quite dry and technical, it does give a nice insight into why the ATO does...
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 | 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...
by Team Garnet | Mar 24, 2021 | Business Structures, Small Business, Tax News
With the end of March fast approaching, so too is the end of the Fringe Benefits Tax year which runs from 1 April 2020 to 31 March 2021. While FBT returns do not need to be lodged until 21 May 2021, for many businesses, now is the time to start getting organised in...
