With the ATO’s compliance targeting of large businesses in the past few years reaping rewards, this tax time, its turning its attention to small businesses.
With the FBT lodgement deadline fast approaching, we give you some tips on areas of FBT which may need particular attention, such as motor vehicles, employee contributions, the living-away-from-home allowance, car parking and the employer rebate.
Cash might be king, but the use of cash by businesses is attracting attention from the ATO. It will begin visits of selected businesses to ensure that all tax obligations are met.