The assault on professional services practices

The assault on professional services practices

The ATO has signalled that it is willing to pursue professional services firms who divert profits to avoid tax. Two new cases before the Administrative Appeals Tribunal demonstrate how serious the Australian Taxation Office (ATO) is about making sure professional...
Value influencers: How much is your business worth?

Value influencers: How much is your business worth?

For many small business owners, their business is their largest asset and for many, one that is expected to help fund their retirement. But what is your business worth and what sets a high value business apart? Every business owner is naturally curious about just how...
Non-compete clauses and worker restraints under review

Non-compete clauses and worker restraints under review

A new issues paper from Treasury’s Competition Review questions whether non-compete clauses and other restraints are limiting job opportunities and movement. A recent Australian Bureau of Statistics (ABS) survey found that 46.9% of businesses surveyed used some kind...
The Fringe Benefits Tax traps

The Fringe Benefits Tax traps

The Fringe Benefits Tax year (FBT) ends on 31 March. We explore the problem areas likely to attract the ATO’s attention.   Electric vehicles causing sparks In late 2022, the Government introduced a concession that enables employers to provide some electric...