Do You Need To Pay Superannuation? If you run a business, then the difference between engaging an employee and an independent contractor is a crucial matter – because if you engage a contractor there will be no obligation to pay annual leave or sick leave, and generally, no obligation to pay superannuation. However, crucially, many...

Discretionary trusts have been a familiar feature of Australian business life for generations, partly due to their suitability for asset protection and retirement planning, as well as their ability to legitimately achieve lower overall tax rates through income splitting, where trustees of discretionary trusts allocate all or part of the trust income to associates who...

Following a government media release on the same day, the ATO on 1 April 2026 announced that eligible taxpayers who are experiencing difficulties in paying their tax debts due to recent high fuel prices can apply to the ATO for a temporary fuel response payment plan. An eligible taxpayer can apply for the ATO’s fuel...

Three recent Administrative Review Tribunal (ART) decisions on claims for car expenses have shone a light on what the law requires in relation to car logbooks. Where you use your car for business purposes, there are two ways of making a claim – the cents per kilometre method for up to 5,000 business kilometres, or...

With the due date for FBT returns coming up, the following non-exhaustive checklist may prove useful in determining whether you as an employer has an FBT liability. Although it will generally fall to your accountant to prepare the FBT return from your software file or other records, all of the instances where you have provided...

This piece is aimed at self-employed clients, so if you’re a salary earner or a retiree you can safely move on to the next item. For others, it goes without saying that at tax time you should disclose all your assessable income and only claim legitimate business deductions. Failure to do so exposes you to...

There is much in the media about how the 50% capital gains tax (CGT) discount has contributed to the housing affordability problem in Australia (although no doubt the problem is a lot more complex than attributing it mainly to any taxation measure or measures). Nevertheless, the CGT discount looms large for anybody who owns assets...

With the festive season fast approaching, business owners will be turning their mind to year-end celebrations with both employees and clients. Knowing the rules around Fringe Benefits Tax (FBT), GST credits and what is or isn’t tax deductible can help keep tax costs to a minimum. Holiday celebrations generally take the form of Christmas parties...

If you run a small business and sell it – or some of its asset(s) – and make a capital gain, the CGT “retirement exemption” may be invaluable to reduce or eliminate the tax payable on the gain. The funny thing is that you don’t have to retire to use the CGT retirement exemption. Rather,...

Getting the answer to that question right can save you a lot of money. Getting it wrong, however, can end up costing you a packet, especially where multiple income years are involved. Where it turns out that a person you thought you had engaged as an independent contractor is really your employee, you could be...