Tax time can feel quite daunting, especially if you own a small business in Perth. With this in mind, the team at Aspect Accountants and Advisors have put together the four ultimate tax time tips to help reduce tax bills, claim deductions, enhance revenue.
What is Single Touch Payroll?
As of 1st July 2018, Single Touch Payroll was introduced to businesses of 20+ staff. This year from 1st July 2019, businesses with fewer than 20 employees and businesses that had extensions granted will also have to start reporting using Single Touch Payroll. Are you ready for the switch?
Meet The Aspect Accountants and Advisors Team
Here at Aspect Accountants and Advisors, it is of utmost importance we understand each and every one of our clients. With this in mind, and to ensure each client feels their most comfortable, we invite you to get to know each of the Aspect Accountants and Advisors team.
So, without further ado, please give a warm welcome to Aspect Accountants and Advisors Senior Accountant; Janette Gray!
The ATO has updated its list of ‘What attracts our attention’, with six items that specifically relate to fringe benefits tax (‘FBT’), as follows:
Failing to report car fringe benefits, incorrectly applying exemptions for vehicles or incorrectly claiming reductions for these benefits.