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Fringe Benefits Tax: Quick Guide For 2022

Fringe benefits relate to all the extra advantages an employer can provide to employees and their connections and it is important for employers to understand what they are and the implications they have on the business. Fringe benefits tax can be costly but if considered properly there are ways to manage it to create benefits for both employers and employees.

This quick guide outlines what fringe benefits tax (FBT) is, who pays it, what is exempt, how to calculate it and some specific examples of how it works.

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Federal Budget 2022

The 2022-23 Federal Budget is focused on continued recovery and rebuilding as the Australian economy recovers from the drastic impact of COVID-19. There is now however a strong focus on addressing the cost of living pressures currently impacting Australia, due to external factors like the war in Ukraine on fuel prices and overall inflationary pressures.

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Employer & Business Update

There are some changes coming that all employers need to be aware of. These include the reopening of NSW, the next phase of Single Touch Payroll, minimum wage increases for some industries and changes to paying super for an employee who doesn’t provide details of their super fund.

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Application for NSW COVID-19 Grants Open

The NSW Public Health Orders have created significant challenges for many businesses across the state that have either been forced to close or have experienced a substantial decline in demand. The 2021 COVID-19 Business Grant (“the Grant”) will provide short-term cash flow support for affected businesses until the new JobSaver scheme commences.

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payroll hr 1 july 2021

Payroll and HR 1 July 2021 update

It’s nearly 1 July again! If you have employees, there are a few changes you need to be aware of. We’ve provided a summary below, however, please feel free to reach out to your usual contact at Addison Partners or call our HR Specialist, Debbie Innes on 02 4995 7300.

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smsf property

The Ultimate Guide to Buying Property With a SMSF

According to the ATO, over 30,000 Self Managed Super Funds (SMSF) are set up yearly showing a growing trend of Australians wanting to have more of a choice over how they invest for retirement. A major driver of this is Australians who want to invest in specific properties of their choosing.

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