2022-23 Federal Budget Highlights

The Federal Treasurer, Mr Josh Frydenberg, handed down the 2022–23 Federal Budget at 7:30 pm (AEDT) on 29 March 2022. In an economy emerging from the pandemic, the Treasurer has confirmed an unemployment rate of 4% and an expected budget deficit of $78 billion for 2022–23. As international uncertainties add pressure on the cost of …

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How the ATO identifies potential FBT audits

The table below outlines the key tax return labels that can alert the ATO that an employer may have some FBT exposure. DISCLOSURE ITEM / RETURN LABEL FBT RISK Fringe benefit employee contributionsItem 6, Label I of the ‘C Return’Item 46, Label T of the ‘T Return’ The disclosure of income at this label confirms …

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Superannuation eligibility changes could impact your payroll

The $450 threshold for super eligibility will be removed in July. This could impact payroll costs. If you rely on a pool of casual workers who earn less than $450 per month, talk to us. We can help you prepare for the increased cost.

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