Taxi Travel Expenses: FBT exemption

Taxis are Exempt under FBT but Uber / Ola are not!! Any benefit arising from taxi travel by an employee is exempt from fringe benefits tax (FBT) if the travel is a single trip beginning or ending at the employee’s place of work. Any benefit arising from taxi...

Who and what is a company public officer?

A public officer is a company’s representative to the ATO and is responsible for the company’s obligations under Section 252 of the Income Tax Assessment Act 1936.  The public officer is responsible for the company complying with the act and is also liable for the...

What happens to Superannuation in bankruptcy

If someone is in financial strife, one option is to declare bankruptcy.  But what happens to their superannuation (super)? The Bankruptcy Act 1966 defines super as a ‘on-divisible asset’ – in other words, it’s protected from creditors.  Therefore, once someone has...