• 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 Exemption for Various Work Vehicles

If an employer allows an employee private use of a vehicle, FBT generally applies.

   

 

There is an exemption from FBT for panel vans, utilities and other commercial vehicles, but only if the employees private use of these vehicles is limited to:

  • Travel between home and work
  • Travel that is incidental to travel in the course of duties of employment
  • Non-work-related use that is minor, infrequent and irregular
  • The employee uses the vehicle to travel between their home and their place of work and any diversion adds no more than two kilometres to the ordinary lengthy of that trip
  • For journeys undertaken for a wholly private purpose, the employee does not use the vehicle to travel more than 1,000 kilometres in total per year and no return journey exceeds 200 kilometres.

You may be familiar with the exemption for “minor, in frequent and irregular”, but these guidelines quantify what the Commissioner of Taxation expects – quite limiting!

 

 

AcctWeb