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Large Savings for Employees Salary Packaging FBT Exempt Electric Cars
The Government recently introduced a new FBT exemption for electric cars provided by employers to employees (including under a salary packaging arrangement) where certain conditions are satisfied. This new FBT exemption provides an opportunity for employees on all income levels to achieve significant after-tax savings by salary packaging an electric car that qualifies for the…
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Changes to Claiming Working From Home Deductions from 2022/23 Year
The Australian Taxation Office (ATO) has announced that the claiming of expenses for working from home will change for the 2023 financial year. The ATO has introduced a revised 67 cents-per-hour fixed-rate method to replace the previous 52 cents-per-hour rate and imposes additional record-keeping obligations on individuals. Also, from the 2023 financial year, the 80 cents…
