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In Australia, special capital gains tax (CGT) rules apply to the transfer of assets from a deceased estate. The most common types of capital gains assets are property, shares and managed funds. You may have just received, or are about to [...]

When the Australian Taxation Office (ATO) comes knocking, it rarely gives notice. With increasing data-matching capabilities and stricter compliance reviews, individuals and businesses alike are finding themselves subject to ATO audits—even when [...]

Fringe Benefits Tax (FBT) is a tax that employers pay on certain non-cash benefits provided to employees (or their associates, such as family members) instead of salary or wages. It is separate from income tax and is based on the taxable value [...]

What Is Payday Super? The Government is introducing Payday Super, changing when employers must pay superannuation. Current System• Super paid quarterly• Due 28 days after quarter endFrom 1 July (subject to legislation)• Super must be paid within [...]

The ATO continues to focus heavily on Section 100A (reimbursement agreement) issues. Recent reviews show the ATO now expects a far higher standard of evidence that beneficiaries have received or benefited from the distributions allocated to [...]

Fringe Benefits Tax (FBT) is a tax that employers pay on certain non-cash benefits provided to employees (or their associates, such as family members) instead of salary or wages. It is separate from income tax and is based on the taxable value [...]

If you are considering Christmas presents for your staff or clients this year, the below table summarises the FBT, income tax and GST consequences: Type of Gift Gifts to employees and their family Gifts to non-employees (clients, [...]

As we approach the close of 2024, it’s time to reflect on the year that was and get ready for the opportunities and challenges of 2025. Whether you’re wrapping up projects, reviewing financials, or setting new goals, now is the time to ensure [...]

Losing a loved one is an incredibly difficult experience, and managing their final affairs can feel overwhelming. At Kennedy Cross, we understand the emotional and logistical challenges you’re facing. Our dedicated team is here to offer support [...]

The end of the current Fringe Benefits Tax (FBT) year is Friday 31 March 2024. Now’s the time to start collecting the data that will be required to prepare your FBT return. You’ll also need to take note of your odometer readings for [...]