From 1 April 2016 onwards you can provide your employees with multiple work-related portable electronic devices mainly for use in their employment without having to pay fringe benefits tax (FBT). For example, you can now give your employee both a laptop and a tablet and not pay FBT on either item. Before this change you would have had to pay FBT on one of the items.
The devices can include:
- GPS navigation receivers
- mobile phones.
Taxation of Deceased Estates can be very complicated and people are not aware of the implications. You need to examine the taxation of deceased estates, including recent legislative changes:
• Legal nature of deceased estates
• The various phases of existence for deceased estates
• Multiple testamentary trusts
• Overview of the income tax principles relevant to deceased estates
• Overview of the capital gains tax principles relevant to deceased estates
• Tax treatment of minor beneficiaries of deceased estates
• Cross-border issues for deceased estates
Stock Market Fact According to Bloomberg, as of 21 January some 40 stock markets worldwide with a combined value of US$27 trillion ($38.6 trillion) had fallen victim to the dreaded bear (which is defined as a fall of 20 per cent or more from their previous peak), including China, Hong Kong, Japan, Singapore and Taiwan, while Australia's market was almost in its clutches.
Support Your Local Small Business.... You, your family and friends will benefit..... - Locally owned businesses build strong communities by sustaining vibrant town centres, linking neighbours in a web of economic and social relationships, and contributing to local causes. - Compared to chain stores, locally owned businesses recycle a much larger share of their revenue back into the local economy, enriching the whole community. - Locally owned businesses create more jobs locally and provide better wages and benefits than chains do.
The margin scheme is a way of working out the GST you must pay when you sell property as part of your business. You can only apply the margin scheme if the sale of the property is taxable. If you purchase property where the margin scheme was applied to the sale, you cannot claim a GST credit for the GST included in the purchase price of the property.