2020-2021 Federal Budget: Taxation and Accounting Overview

The Federal Treasurer, Mr Josh Frydenberg, handed down the 2020-21 Federal Budget at 7:30 pm (AEDT) on 6 October 2020. Below we have provided a taxation and accounting overview of the changes outlined in the Budget. “Australia’s economic response to the COVID-19 pandemic in the form of the original and extended JobKeeper scheme, the cashflow boosts and the enhanced JobSeeker payment has come at a significant cost”, Mr Frydenberg said,…  Read more

Ride-sharing Now Eligible for Fringe Benefits Tax Exemption

The Australian Government has now extended the Fringe Benefits Tax exemption for ‘taxi travel’ for employees to ride-share, with the likes of Uber, DiDi and Ola now falling under ‘taxi travel’. The inclusion of ride-sharing under ‘taxi travel’ will enable companies to receive the same tax benefits as they would for ‘taxi travel’, allowing for a wider spread of private transportation options. Ride-share businesses such as Uber and Ola are…  Read more

Should You Buy a Motor Vehicle in Your Business Name or Personal Name?

We are often asked this question many times by business clients who are purchasing a new motor vehicle. Unfortunately, there is no standard answer. It depends on many factors such as the cost of the car, its operating costs and its usage. Here are a few points to bear in mind when working out what will give you the biggest tax deductions when buying a motor vehicle: Motor Vehicle Purchased…  Read more

Superannuation Guarantee Obligations: Don’t Get Caught Out by the ATO!

Increased ATO Activity with Employers’ Superannuation Guarantee Obligations Over the last couple of years, the ATO has introduced multiple new systems to change the way in which employers meet superannuation guarantee obligations for their employees. The two most recent significant changes regarding superannuation guarantees are: SuperStream Single Touch Payroll (STP) Here is a quick summary on what both systems are: SuperStream SuperStream is the way you must pay employee superannuation…  Read more

Fringe Benefits Tax Implications of Work Christmas Parties and Gifts

Fringe Benefits Tax – What You Need to Know for the Christmas Period As Christmas approaches, you are likely to be planning your end of year function and perhaps thinking about Christmas gifts for your valued clients and employees. During this planning stage, it is important to understand and consider the implication of Fringe Benefits Tax on your gifts and parties, to ensure your generosity doesn’t cause unwanted tax consequences…  Read more

Allan Hall: Multi-award winning firm

Allan Hall Business Advisors continues to impress with individual, network and firm-wide awards and accolades, with our latest nomination as winner of the Client Choice Awards 2020, Women in Finance Awards 2019 and HR Manager of the Year 2019. For further details and a full list of our recent awards, click below.

Global alliance focussed on business excellence

Together as One. Allan Hall Business Advisors is a Member of the Alliott Global Alliance of independent professional firms.

The Alliott Global Alliance is a growing alliance group of 180+ accounting and law firms in  across 80+ countries globally. As part of this group, we can connect with like-minded members of Alliott Global Alliance in other jurisdictions to support and advise our clients who are wishing to explore and develop business opportunities both locally and internationally.