ATO Alert - COVID Affecting Car Fringe Benefits
The ATO is warning employers to take care to avoid unnecessary FBT for car fringe benefits provided to employees.
As a result of the COVID lockdown earlier this year, many employees have been working from home at a far greater rate. If these employees have had the use of a car provided by their employer, the employer will need to check how they are calculating their fringe benefits, to avoid unnecessary FBT.
With working from home beco...
Entertainment expenses - what can I claim?
The days of the Long Lunches of the 1980s may be well behind us, but there is still a lot of confusion around when entertainment expenses can be claimed as a tax deduction and how this interacts with Fringe Benefits Tax (FBT). It can be easy to make mistakes that can add a lot to your business's tax bill!
When is food and drink (and other entertainment) deductible?
It can be difficult, at first glance, to determine where you...