• I've just started up my own business as a sole trader: what do I need to know about tax?

    Starting up as a sole trader changes the way you report income and pay your taxes. We can make sure that you're ready for the transition, no matter which industry you're from.

    Book a consultation
  • Need accounting software advice and support?

    Our extensive expertise in all aspects of accounting software means you can concentrate on what you do best – running your business. We are accredited Xero specialists and have been MYOB, Intuit and Reckon Partners for many years.

    Learn more about Our Services
  • We want to start our own business: how do we set up the company?

    At PBA Financial Group we specialise in the setting up of start-up and new businesses. We'll set up a solid foundation for your new business so that you can hit the ground running!

    Learn more about Our Services
  • I've always done my own tax returns without the help of an accountant

    More often than not, people who do their own tax returns will miss out on valuable deductions simply because they didn't know what they were entitled to claim, or they incorrectly claim expenses.

    Are you sure your tax return is as accurate as it could be?

    Book an appointment

Latest News

FBT Reminder – Odometer Reading

Anybody who has a Fringe Benefits Tax obligation should take an odometer reading of motor vehicles.

.

This reading is one of the annual requirements of the logbook method of fringe benefits calculations for the Fringe Benefits Tax period ending 31st March 2024.

 

If you are not sure if you have an obligation, it will only take a few minutes, so just do it!

 

Remember also that there are quite a few types of FBT and that FBT law includes various categories of fringe benefits and specific valuation rules for each category. The list below outlines what needs to be considered.

 

You may need to pay FBT even if the benefit is provided to an associate of your employee or by a third party under an arrangement with you.

 

Benefits that attract FBT are:

  • Car fringe benefits
  • Car Leasing fringe benefits
  • Car parking fringe benefits
  • Entertainment and fringe benefits
  • Expense payment fringe benefits
  • Loan fringe benefits
  • Debt waiver fringe benefits
  • Housing fringe benefits
  • Board fringe benefits
  • Living away from home allowance fringe benefits
  • Property fringe benefits (including property, goods or shares)
  • Residual fringe benefits (benefits not covered by the above categories)

 

A new consideration is the employee contribution to home electricity for an electric only vehicle.