Minor and Infrequent FBT: Is Your Vehicle Under Attack?

Advivo Accountants and Advisors explain the requirements of an FBT exempt vehicle… does yours measure up?   Published: February, 2020 Updated: July, 2023   My ‘ute’ is FBT exempt right? Wrong. Well… not necessarily anyway. As business advisors in Brisbane, we often come across small business owners who have been told they should buy a…

Advivo Newsletter June 2019

What a Month! Since our last newsletter we’ve had an election that confirmed the measures announced in the April Federal Budget are now more likely to become a reality, subject to the cross-bench. It’s important to note that the Low and Middle Income Tax Offset changes are not yet law (and won’t be until post-30…

Superannuation – What you should know

A Quick Guide on the Upcoming Changes Regarding Superannuation If you have a Self-Managed Superannuation Fund you might be aware that the rules are constantly changing. Over the past few years there have been many significant changes made and many proposed but never legislated. We have prepared a quick guide on the upcoming changes and…

Advivo Newsletter May 2019

Welcome to the new look Advivo Newsletter, we hope you like it. As many of you already know the very core of what we do at Advivo is to help you grow your business, yes the accounting and tax compliance is essential too but it does not add value to what you do and work…

SCAM WATCH!!! Update from the ACCC

Latest Figures in the ACCC’s Targeting Scams Report Australians lost almost half a billion dollars to scammers in 2018 according to the latest figures in the ACCC’s Targeting Scams report released last week. “Total combined losses reported to Scamwatch and other government agencies exceeded $489 million – $149 million more than 2017,” ACCC Deputy Chair,…

The ATO is always watching…

ATO Can Automatically Deny Deductions For Late Super Payments Superannuation paid for employees must be paid on time for employers to claim the payment as an income tax deduction. This has been the situation for many years and doesn’t look to be changing any time soon.  What is changing is that with the introduction of…

What is Fringe Benefit Tax (FBT)?

What is Fringe Benefits Tax or FBT? A fringe benefit is a benefit provided in respect of employment, essentially a benefit provided to an employee (or their associate) because they are an employee. An example of a fringe benefit being provided to an employee may be one of the following: Allowing your employees to use…

Single Touch Payroll – UPDATE!

Update on the Period of STP Reporting On Tuesday 12th February 2019 the extension to the Single Touch Payroll (STP) Bill was passed by the government. The result of which now requires all Australian businesses will be required to comply with STP reporting from July 1, 2019. What is STP Reporting? For those who have…