No travel deductions for rental properties

From 1 July 2017, travel expenses relating to inspecting, maintaining, or collecting rent for a residential rental property cannot be claimed as deductions by investors. However there are some exemptions. The travel expenditure is also not recognised in the cost base...

Fringe Benefit Tax exemption for commercial vehicles

Fringe benefits tax (FBT) is a tax employers pay on certain benefits they provide to their employees – including their employees’ family or other associates. The benefit may be in addition to, or part of, their salary package. Generally, a fringe benefit arises where...

Accessing company information and resolving disputes

Who can access company information? How can it be accessed? What to do when there are issues / disputes arise with accessing information? Under Australian corporations’ law, companies are required to retain and make accessible certain records of company activity,...

Beware: Scams Targeting ASIC Customers

Recently, ASIC has published an alert on its website reminding all ASIC customers that scammers pretending to be from ASIC have been emailing their customers asking them to pay fees and give personal information to renew their business or company name. These emails...