Fringe Benefits – Tax Tips

To avoid the high cost of FBT, many employers choose to provide a car allowance to their employees, typically ranging from $15,000 to $20,000. Although this allowance is subject to…

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Salary Sacrifice – Tax Tips

High-wealth individuals who operate their businesses through a company structure should consider retaining funds within the corporate entity instead of receiving a wage or dividend to stay below the $250,000…

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Salary Sacrifice – Tax Facts

If you enter into a salary-sacrifice arrangement, your income tax liability should decrease compared to not entering into the agreement. However, before committing into any arrangement, it's crucial to consider…

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Redundancy – Tax Pitfalls

Although payroll departments typically calculate redundancy and termination payments accurately, mistakes can occur. Unfortunately, these errors can sometimes be significant, with miscalculations exceeding thousands of dollars in some cases. As…

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Redundancy – Tax Facts

"According to the ATO, a bona fide redundancy payment is defined as compensation received by an employee under the age of 66 upon being dismissed from their job due to…

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