This month we look at: the FBT traps including electric vehicles, the ATO debt dilemma, how to take advantage of the 1 July super cap increase, and getting back what you put in - loans to get a business started!
- The Fringe Benefit Tax Traps
The Fringe Benefits Tax year ends on 31 March. We explore the problem areas likely to attract the ATO’s attention. Pages 1-2. Read More
Late last year, thousands of taxpayers and their agents were advised by the Australian Taxation Office that they had an outstanding historical tax debt. The only problem was, many had no idea that the tax debt existed. Pages 3. Read More
- How to Take Advantage of the 1 July 2024 Super Cap Increase
From 1 July 2024, the amount you can contribute to super will increase. We show you how to take advantage of the change. Page 4-5. Read More
- Getting Back What You Put In: Loans to Get a Business Started
It’s not uncommon for business owners to pour their money into a business to get it up and running and to sustain it until it can survive on its own. A recent case highlights the dangers of taking money out of a company without carefully considering the tax implications. Page 6. Read More
Quote of the month:
“Life isn't about finding yourself. Life is about creating yourself.”
George Bernard Shaw
Check other editions of Your Knowledge here
