With the end of the financial year fast approaching, now is a good time to think about some of the tax matters that will impact your business and personal tax positions for the 2023 financial year.
The Federal Treasurer, Dr Jim Chalmers, handed down the 2023–24 Federal Budget at 7:30 pm (AEST) on 9 May 2023.
Read our Hall Chadwick QLD report here.
Our office will be closed from Friday 7 April 2023 and will reopen Tuesday 11 April 2023.
Division 7A applies to businesses of all sizes, from small to large, and it is important that business owners understand its implications.
In our video series Business Services Director, Ken Hogarth talks through Business Efficiencies.
Click through to watch the full video of this important topic alongside a transcript.
The 2023 Fringe Benefits Tax (FBT) year is coming to an end on 31st March 2023. This is the time for employers to think about their FBT obligations.
Time flies when you’re having fun!
Hall Chadwick QLD’s 2023 Summer Internship Wrap Up.
Getting it right is imperative!
The classification of workers as either employees or contractors has long been an area of interest to the ATO and other government organisations, with many businesses getting it wrong. The cost of incorrectly classifying a worker can be significant, resulting in employers being liable for unpaid superannuation, leave entitlements, PAYG withholding and potentially other amounts under the relevant state employment laws.
The Treasury Laws Amendment (Electric Car Discount) Bill 2022 received Royal Assent on 12 December 2022. This legislation provides for an exemption from Fringe Benefits Tax (FBT) for benefits pertaining to electric cars. Limited guidance has been provided by the ATO to date however it has been indicated that further guidance will be released once the Bill has been enacted.
South East Queensland businesses impacted by rainfall and flooding between February and April 2022 have more time to apply for Extraordinary Disaster Assistance Recovery Grants.
