The FBT exemption for plug-in hybrid electric vehicles (‘PHEVs’) broadly ended on 31 March 2025, so the 2025 FBT year may be the last year that employers can claim the exemption.[…] CONTINUE READING
Pay as you go (‘PAYG’) withholding Taxpayers need to withhold the right amount of tax from payments they make to their employees and other payees, and pay those amounts to the ATO. Single touch payroll (‘STP’) Employers should finalise their STP data by 14 July 2025 for the 2024/25 financial year (there may be a […]
The indexation rate for study and training loans is now based on the Consumer Price Index (‘CPI’) or Wage Price Index — whichever is lower. This change has been backdated to indexation applied from 1 June 2023 for all HELP, VET Student Loan, Australian Apprenticeship Support Loan, and other study or training support loan accounts.[…] […]
Year-end (and other) staff parties Editor: With the well-earned December/January holiday season on the way, many employers will be planning to reward staff with a celebratory party or event. However, there are important issues to consider, including the possible FBT and income tax implications of providing ‘entertainment’ (including Christmas parties) to staff and clients. » […]
