New legislation from the Government, yet to pass, states that from 1 July 2017, the ATO will be able to disclose debt information to credit reporting agencies of taxpayers that are not effectively managing their debts with the ATO. To avoid this affecting taxpayer’s credit rating, the ATO encourages payment of taxation debts in a…
Tax Incentives For Businesses on R & D Are you aware of R & D tax incentives that can help drive innovation and value for your business? If your business engages in activities designed to improve a product or service that you take to market, you may be eligible for lucrative cash refunds for expenditure…
Advivo Tests Out Yodal – A New Estate Planning Tool At Advivo we are always looking for ways to do things better. In our Estate Planning area, we recently started using a new software called Yodal to manage the legal side of the process. Yodal allows our clients to use their solicitor of choice, via…
Welcome to the Advivo 2017 Budget Review Like most budgets the 2017 budget has met mixed reviews from business and individuals. From a small business owner’s perspective the extension of the $20,000 capital asset purchase immediate write off is positive. However the flow on effects from the “big bank tax” may have adverse effects on…
We’ve known for a while that small business entities (SBEs) have had until 30 June 2017 to take advantage of being able to claim an immediate deduction for assets costing less than $20,000. So what’s all the fuss about now? The Treasury Laws Amendment (Enterprise Tax Plan) Bill 2016 has now been passed by the…
The end of March brings the 2017 FBT year to a close, we have a final wrap up of FBT News from Ben Wright, Manager, who recently attended an NTAA FBT Seminar for 2017. Issues to consider when assessing your fringe benefits obligations: Car fringe benefits are one of the main benefits provided by employers…
As the end of the financial year fast approaches, it is important to be aware of changes happening at the end of this financial year. The ‘limited time offer’ $20,000 instant deduction for small business entities will be coming to an end on 30 June 2017. This immediate tax deduction means that businesses with a…
Our Core Values to Take Your Business to the Next Level At Advivo it is firstly and fundamentally important to us to help people by empowering and educating them – whether our clients, staff or industry partners. Going Beyond Traditional Accounting We deliver this core value externally by adding value in being innovative and proactive…
Fringe Benefits Tax Lodgment Information The Fringe Benefits Tax (FBT) year runs from 1st April to 31st of March. If you are providing certain benefits to your employees or you are receiving certain benefits as a director of a company or trust, you may be subject to FBT. Lodgment and Payment Dates The FBT lodgement…
Insights About Your Fringe Benefit Tax Obligations Unsure about your Fringe Benefits Tax (FBT) Obligations or what FBT is about? We have compiled some helpful tips that can help you. If you own or lease a car that is available for the private use of your employee/s you may be providing a car fringe benefit.…
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