Understanding Fringe Benefits Tax (FBT) And What It Covers

For businesses in Australia, providing fringe benefits to employees can be a valuable way to attract and retain talent, as well as incentivise performance. However, employers need to understand their obligations regarding Fringe Benefits Tax (FBT). The Australian Taxation Office (ATO) administers FBT, a tax on certain non-cash benefits provided to employees in connection with…

Strategies To Cut Costs Without Cutting Ties

For businesses, maintaining profitability and financial stability is essential for long-term success. At times, this can lead to costs needing to be cut.  However, cost-cutting initiatives often evoke concerns about compromising values, employee well-being, and corporate social responsibility. Fortunately, there are several strategies that businesses can adopt to reduce costs without sacrificing their core values…

What Is The Small Business Superannuation Clearing House?

For small businesses in Australia, managing superannuation payments for employees can be a time-consuming and complex task. Super guarantee payments must be made quarterly, with the next due date being the 28 April. However, the Australian Taxation Office (ATO) offers a solution in the form of the Small Business Superannuation Clearing House (SBSCH). This online…