Record Keeping
Fringe Benefits Tax As 31 March approaches, businesses need to prepare for their Fringe Benefits Tax (FBT) obligations to ensure compliance with the Australian Taxation Office (ATO). The FBT year runs from 1 April to 31 March, and preparing ahead of time can help businesses avoid costly mistakes, reduce their FBT liability, and ensure all required records are …
FBT Record-Keeping New options are being introduced to streamline this process, allowing small businesses more flexibility and efficiency. Let’s dive into these new record-keeping methods and how they can benefit your business. Simplified Record-Keeping Methods The ATO now offers several simplified methods for managing FBT records, aimed at reducing the administrative burden on small businesses. …