by Harry Ashdown | Oct 18, 2023 | Budgeting, Business Planning, Lifestyle, Tax
Fringe Benefits Tax (FBT) is a tax that employers pay on certain benefits they provide to their employees or their employees’ family or other associates. FBT is separate from income tax and is based on the taxable value of the various fringe benefits provided....
by Harry Ashdown | Oct 18, 2023 | Business Planning, Tax
Employers must pay the Fringe Benefits Tax (FBT) on certain benefits they give to their workers or their employees’ associates. FBT is based on the taxable value of the various fringe benefits offered and is separate from income tax. The FBT year spans from...
by Harry Ashdown | Aug 7, 2023 | Family, Health Care, Insurance, Lifestyle, Private Health Insurance, Tax
Medicare Levy and Medicare Levy Surcharge is NOT the same thing! Let’s find out the difference together and which one we can avoid paying. The Medicare Levy rate varies based on your or your family’s income level. It is collected from you in the same way...
by admin | Jul 27, 2023 | Lifestyle, Retirement, Superannuation, Tax
This tax year, it has come to my attention that we need a bit of a refresher on how the Australian Income Tax System works, the difference between deductions and credits, and why we are all sad to see LMITO go. Our Tax System is Progressive So, this is the first thing...
by admin | Jul 25, 2023 | Debt, Economics, Family, Interest Rates, Investing, Retirement, Superannuation, Tax
If you’re thinking of retiring soon, you might want to know about the Transfer Balance Cap (TBC) for pension accounts in Australia. It’s a limit on how much money you can transfer from your superannuation account to your pension account. Why does it...
Recent Comments