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A win for the NZ teams

If you support NZ sporting teams playing in Australia, and you are not a rugby fan, it has been a long time since you have been on top. But now these NZ teams playing in Australian comps can boast that they won in the best way… not on the pitch or court, but in the […]

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Monday Ramblings – Cheapest way to reward employees

I am always getting asked about bonuses, and generally it is around the timing idea of declaring the bonuses before 30 June so the employer gets the deduction in year 1, but paying the bonus after 30 June so the employee has to pay tax in year 2. Yes, you can do this… But I […]

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Monday Ramblings – Fringe benefits tax and car parking fringe benefits

Since 1996, the place to go to work out if an employer has to pay FBT on car spaces it owns or leases has been Taxation Ruling TR 96/26, titled “Fringe benefits tax: car parking fringe benefits”. Note: reimbursing someone who has used a third party car park is not a car parking fringe benefit […]

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Late Monday Rambling – A Budget

What do we have in this year’s Federal Budget for all our tax and super practitioners? First, we have the announcements that we are keeping what we already have for a bit longer… Retaining the low and middle income tax offset for the 2021-22 income year  The Government will retain the $1,080 low and middle […]

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Claiming internet and phone costs – finally a case

I have been waiting for a case like this for some time. In Spencer and Commissioner of Taxation [2021] AATA 1106, the taxpayer claimed all his home internet and all his phone costs (including buying the phone). His employer had given him a work phone and a tablet with a SIM card so he could […]

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Monday Rambling – A budget is coming

According to ATO data modelled by Deloitte Access Economics… This is just for personal income tax, and it is Access updating the ATO data from 2018. Just because it makes people angry, let me say that is you earn more than $180,000 you are in the top 3.4% of Australians (now for the excuses). But […]