The Fringe Benefits Tax (FBT) year ends on 31 March 2025, and there are key updates for employers and employees. Here’s what you need to know. FBT Exemption for Electric Cars If your business provides an electric vehicle (EV) to an employee, you may qualify for an FBT exemption if: The car is a zero … Read more
The Full Federal Court has ruled in Commissioner of Taxation v Bendel [2025] FCAFC 15, confirming that unpaid present entitlements (UPEs) owed to corporate beneficiaries are not loans for Division 7A purposes. This decision has significant implications for trust structures and tax planning, potentially overturning the ATO’s long-standing position. What Was the Issue? Since December … Read more
The Australian Taxation Office (ATO) is making changes that will impact small businesses that have a history of non-compliance with their GST reporting. From 1 April 2025, the ATO will transition certain small business taxpayers from quarterly to monthly GST reporting. This shift will apply to businesses with a track record of late payments, missed … Read more
