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Payment times reporting (PTR) – are you affected?
The payment times reporting (PTR) regime commenced on 1 January 2021 and requires certain large business entities to report on their small business payment terms and times. This information is published on the Payment Times Reports Register and is accessible by the public.
Don’t get caught off guard: understand the FBT obligations when providing employees with FBT-exempt Electric Cars
It's important employers consider the potential Fringe Benefits Tax (FBT) consequences when providing a benefit to an employee. This consideration remains essential for employers providing Electric Vehicles (EVs) to an employee, despite recent legislation exempting employers from paying FBT on their private usage.
Fair Work amendments: Secure Jobs, Better Pay – what do I need to know?
The Secure Jobs, Better Pay amendments to the Fair Work Act will progressively be implemented throughout 2023, with some amendments having already commenced and others commencing on March 6.
New Zealand, Finland, German or South African citizens – refunds of NSW duty and land tax
The NSW Government announced last week that the NSW residential land foreign person surcharge provisions are inconsistent with international tax treaties entered into by the Federal Government with New Zealand, Finland, Germany and South Africa.
Government announces plans for $3million superannuation cap
After speculation that changes to the superannuation rules could form part of the upcoming Federal Budget, the Government has made a pre-emptive announcement that they will look to introduce a new ‘cap’ for super. The new cap, which is proposed to commence from 1 July 2025 will limit the tax concessions available to those with a superannuation balance above $3 million.
The ATO’s new work from home deduction rules – practical or onerous?
The ATO have announced changes which will impact taxpayers who claim the “Working From Home” (WFH) deductions under the “fixed rate” method, applicable from 1 July 2022 in their 2022-23 income tax returns
Mazars in Australia strengthens international ties with new financial advisory Partner
Mazars, the international audit, tax and advisory firm, is proud to announce the expansion of its financial advisory and transaction services division in Sydney, with the arrival of Maximilien Amphoux, a new financial advisory Partner transferred from Mazars in Paris. This appointment demonstrates Mazars’ commitment to providing exceptional services to clients and illustrates the firm’s integrated partnership model, fostering global connections and relationships.
Benchmark your way to a thriving business
Benchmarking – it’s the No.1 thing you can do right now to bring your processes up to scratch and plan for a big spike in profits. By letting you see where you sit compared with industry leaders, it goes beyond traditional KPI monitoring to help your business prosper and implement changes where needed.
10 habits of successful business owners
Managing a business can often resemble a juggling act with a seemingly never-ending laundry list of things to do. With a long-standing history of working with business owners Mazars advisers have identified several habits common to successful business owners. In this article we have listed the top 10 habits we witness to help you compare and contrast with the view to adding a few more good habits to your schedule.
Payroll tax for medical centres – An uncertain prognosis
Until last week, the payroll tax prognosis for medical centres seemed to have some clarity. The Revenue Offices in both NSW and Queensland seemed to have settled on policies that payments made by medical centres to health practitioners were subject to payroll tax in qualifying circumstances. However, a segment in an ABC Radio news program in Brisbane last week has left that status in doubt.