Entries by Tessa Roberts

Tax consequences of buying a work vehicle

Understanding the tax consequences of buying a work vehicle can be complex and confusing. The general concept is that if you buy a motor vehicle for work related travel, you are able to claim the work portion of the expenses incurred as a deduction, however under current temporary tax measures there are some circumstances where […]

COVID rent relief rules set to end in March

In March 2020 the WA government introduced a code of conduct to support tenants of commercial properties with COVID rent relief. This code of conduct was created to ensure businesses survived the economic downturn by assisting commercial tenants and landlords to negotiate a rent relief agreement. The code applied to small businesses with an annual […]

Employee or contractor – the risks of getting it wrong

The difference between an employee and a contractor is not always easy to distinguish. If an employer incorrectly classifies their employee as a contractor, they could face significant penalties. Therefore it is imperative that employers understand the differences between an employee or contractor and correctly categorize their workers. There are many factors which help determine […]

Contributing to super – options for employees

If you are an employee, salary sacrificing to super is an attractive option to boost your super balance, as well as getting a tax saving. Though did you know that if you salary sacrifice to super, you could be missing out on part of your super guarantee? The super guarantee is a compulsory system of […]

What are the benefits of super salary sacrifice?

Salary sacrificing is an arrangement between an employee and their employer whereby part of the employee’s salary is sacrificed for benefits of a similar value. When you salary sacrifice superannuation, you are electing to have part of your salary paid to your superfund instead of receiving this amount as wages. In doing so, you are […]

The sharing economy and taxation

What is the sharing economy? The sharing economy connects buyers (users) and sellers (providers) through a facilitator who usually operates an app or a website. There are many sharing economy websites and apps. Common platforms/situations include: • Uber and other ride sourcing services • Uber Eats • Airtasker • Deliveroo • Air BnB • Stayz […]

Reducing FBT with the otherwise deductible rule

Non-cash benefits given to an employee by their employer are known as fringe benefits. These benefits are generally subject to Fringe Benefits Tax (FBT) which the employer pays but will often factor into the employee’s package. However there are exemptions and concessions that can reduce or eliminate the amount of FBT payable. An example of […]

Changes to small business concession thresholds

As of the 1st of July 2017, several of the small business concession thresholds that allow small businesses access to a range of concessions have increased, allowing more businesses to take advantage of various small business tax concessions. The turnover threshold level used to determine whether you are considered to be a small business entity […]