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Finicky Bothersome Tiresome (FBT)

Fringe Benefit Tax (FBT) on privately used vehicles is neither new nor rare. However, errors in FBT calculations are common due to the murky and complicated nature of the rules and principles that apply. Generally, FBT is payable when a business-owned vehicle is available for private use by an employee. The availability component of this…
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Working remotely

In recent years, we have seen many businesses shift away from traditional office spaces and make the move to an open plan work environment. Whilst open plan offices have been credited with boosting collaboration, breaking down hierarchies and encouraging conversation, new research suggests that working remotely can be a great way to increase productivity and…
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Saving time and cost with tax

Various tax concessions exist that can save significant time and money, but they are often overlooked. You may want to save this article as a handy reminder to take advantage of these options whenever possible. Business-related legal fees are tax deductible irrespective of whether they are capital in nature, provided the total amount for the…
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Ring-fencing of Residential Rental Losses

It's official, property investors will no longer be able to deduct their expenses relating to their loss-making residential investment properties from their other income like salaries and wages or business profits. The changes are already in force with the Act including the changes receiving royal assent on the 26th of June.  The rules will apply…
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