How to record and manage minor and infrequent Fringe Benefits Tax for small businesses can seem overwhelming, but it doesn’t have to be. Many small business owners find themselves caught off guard by FBT obligations, particularly when understanding the minor benefits exemption and keeping proper records. The good news is that with the right approach,…
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SMSF Compliance Checklist: Meeting Your Annual ATO Obligations
SMSF Compliance Checklist: Meeting Your Annual ATO Obligations is the first thing every SMSF trustee of a Self-Managed Super Fund should keep close at hand. With the Australian Taxation Office (ATO) watching closely, missing even one deadline or record can result in penalties that chip away at your retirement savings. Managing your own super fund…
Avoiding Excess Contributions Tax: Bookkeeping Tips for Superannuation
Avoiding Excess Contributions Tax is a top concern for many Australians, especially when it comes to managing superannuation. Exceeding the contribution caps can mean paying extra tax and seeing your retirement savings take a hit. With clear, practical bookkeeping, you can keep your super fund on track and avoid costly mistakes. This article explains how…
Division 7A Loans: Bookkeeping for Compliant Interest Rate Calculations in Australian SMEs
Staying on top of the Division 7A Loans: Bookkeeping for Compliant Interest Rate Calculations in Australian SMEs rules keeps private companies clear of unexpected tax, protects cash flow, and builds confidence that every loan to a shareholder is handled at the correct div 7a interest rate.Division 7A Loans: Bookkeeping for Compliant Interest Rate Calculations in…
