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It is a common practice for organisations to allow employees to use business vehicles for private purposes. This is considered an additional benefit received by the employee that differs from their salary or wage. Such additional benefits are known as fringe benefits, and employers are entitled to pay tax on them as of 1986. In…
The Australian government passed the Fringe Benefits Tax Assessment Act in 1986 to make sure that employers pay the right amount of taxes when they give their workers certain benefits. This act is important for employers because it spells out the rules and regulations for providing these benefits and makes them pay their fair share…
A fringe benefit is a form of compensation provided to employees that goes beyond their normal salary or wages. These benefits can include things like health and dental insurance, life insurance, disability insurance, housing allowances, education assistance programs, childcare programs, employee discounts, and more. Fringe benefits are usually provided by employers to attract and retain…
Are you an employer in Australia who is looking to understand the new Paid Family and Domestic Violence Leave policy? This new policy, which is part of the Fair Work Amendment (Paid Family and Domestic Violence Leave) Bill 2022, is set to go into effect in 2023. In this article, we’ll explain what you need…
If you’re a small business owner living and working in New South Wales, you’ve probably heard about the state government’s two new crisis payments – the COVID-19 Business Grant and the JobSaver scheme. These payments may seem simple on the surface, but there are complex regulations about how you can obtain and spend them. In…
Although some of the restrictions imposed due to the pandemic have now eased, many businesses are continuing to face significant financial hardship. For some, this means there are difficult decisions to be made regarding taking on new staff and/or retaining existing staff members. Apprentices and trainees are particularly vulnerable: not only are employers reluctantly considering…