The federal government is providing an exemption to car benefits fringe benefits tax (FBT) for electric vehicles. This exemption will allow employees to salary package an electric vehicle from their employer to obtain a substantial tax benefit. This legislation intends to improve the viability of purchasing a new electric vehicle.

On 23 February 2022, the ATO issued multiple draft guidance documents relating to trust arrangements that may be caught by anti-avoidance trust tax laws. The ATO has now clarified the draft guidance after receiving submissions from the tax professionals and accounting bodies.

On 23 February 2022, the ATO issued multiple draft guidance documents relating to trust arrangements that may be caught by anti-avoidance trust tax laws.

The latest iteration of covid related disruptions results in the postponement of all non-urgent elective surgeries until March 1. As a medical specialist who relies on procedural work, your revenue will drop between 10% to 20% for the current financial year.