What is in our Business & Tax Update this month?

1. In March everyone's thoughts turn to Fringe Benefits Tax - we look at the ATO's FBT Hot Spots:

• Motor Vehicle Use
• Car Parking
• Living Away from Home Allowances

We discuss how salary sacrifice or employee contributions can help offset your tax liability.

2. GST on Property Developments - we look at the bill currently before parliament which will mean significant changes to how the GST on property is currently managed.

3. Will your business be audited?  It's something no-one actually enjoys... We look at the small business benchmarks and how the ATO uses these to identify audit targets.  A number of industries have small business benchmarks listed on the ATO website, and while being outside these benchmarks may not necessarily mean there is a tax related problem, it may mean that you will encounter other viability issues down the track.

For all this and more read our March 2018 update.

 Business and Tax Update March 2018