Business Owners – Car Fringe Benefits Tax

Employers must choose either the Statutory Formula method of Operating Cost method to report fringe benefits for motor vehicles. If you have not kept the required documentation, we will be forced to use the Statutory formula method which may result in higher tax...

Tax Deductions on Motor Vehicle Expenses

If you operate as a Sole Trader or a Partnership, you can claim car expenses using either the cents per kilometre method or the log book method. If you operate as a Company or a Trust, you must use the actual costs method. Generally, travelling between your home and...

Record Keeping

You are required to keep records for five years (in most cases) from the date you lodge your tax return. If you do not have receipts to substantiate your expenses, please contact us. See the link below to the Australian Taxation Office website to download a quick...

2022 Income Tax Rates

Individual income tax rates for 2021/22 financial year remain unchanged from the previous year. Click on the link below to go directly to the Australian Taxation Office for a full breakdown of categories....