Phone: (03) 9563 4688


Address: 17D Chester Street, Oakleigh VIC 3166

Latest Accounting News
Hot Issues
Our website is really our digital office.
‘Substantiation will be a key focus’: ATO drums in tax time 2018 hit list
Super changes: $1.6 million transfer balance cap and death benefit pensions
Payroll, compliance issues top dodgy practices in Aussie business
Employee travel expense deductions
The Goldilocks effect - Economic and market update 4Q 17
Tax assessments confirmed for undisclosed business income
Super returns on the up despite clients’ hesitation
Australia. All you need to know to be the expert.
Business confidence hits 5-month high: NAB
Caution advised on best interests duty with cryptocurrencies
$20,000 asset write-off renewed for another financial year.
SMSF compliance traps with bitcoin
Where Australia is at. Our leading indicators.
Foreign resident CGT withholding: early recognition of tax credit
ATO set to doorknock as 60% of cash-heavy businesses caught
New downsizing cap available
Capital Gains and Renounceable Rights
Treasury finds Australia 'increasingly uncompetitive' as US moves on tax plans
Australia's vital statistics
Our Advent calendar for 2017
Articles archive
Quarter 4 October - December 2017
Quarter 3 July - September 2017
Quarter 2 April - June 2017
Quarter 1 January - March 2017
Quarter 4 October - December 2016
Quarter 3 July - September 2016
Quarter 2 April - June 2016
Quarter 1 January - March 2016
Quarter 4 October - December 2015
Quarter 3 July - September 2015
Quarter 2 April - June 2015
Quarter 1 January - March 2015
Quarter 4 October - December 2014
Quarter 3 July - September 2014
Quarter 2 April - June 2014
Quarter 1 January - March 2014
Quarter 4 October - December 2013
Quarter 3 July - September 2013
Quarter 2 April - June 2013
Quarter 1 January - March 2013
Quarter 4 October - December 2012
Quarter 3 July - September 2012
Quarter 2 April - June 2012
Quarter 1 January - March 2012
Quarter 4 October - December 2011
Quarter 3 July - September 2011
Quarter 2 April - June 2011
Quarter 1 January - March 2011
Quarter 4 October - December 2010
Quarter 3 July - September 2010
Quarter 2 April - June 2010
Quarter 1 January - March 2010
Quarter 4 October - December 2009
Quarter 3 July - September 2009
Quarter 2 April - June 2009
Quarter 1 January - March 2009
Quarter 4 October - December 2008
Quarter 3 July - September 2008
Quarter 2 April - June 2008
Quarter 1 January - March 2008
Quarter 4 October - December 2007
Quarter 2 April - June 2007
Quarter 1 January - March 2007
Quarter 2 April - June 2006
Quarter 1 January - March 2006
Quarter 4 October - December 2005
Quarter 3 July - September 2005
Quarter 4 of 2011
Merry Christmas 2011
Few know exactly what their true financial position is, do you?
Employee Christmas Parties and Gifts  -  Any FBT?
FBT - Christmas Parties and Taxi Fares
Charitable donations
SMSFs rise to meet new challenges
The Budgeting Tool / Calculators on our website have been upgraded.
Australian Taxation Office (ATO) Compliance - Fringe Benefit Tax
Personal Income Tax Rates - One Year Flood Levy
Self-education Expenses Win Short Lived
Minimum Pensions Increase
FBT - Christmas Parties and Taxi Fares
Some employers, who are commendably anxious to protect their employees and clients from the drink/driving laws, also pay for taxis to take employees to and from the place of entertainment.

For FBT purposes there may be different consequences for payment of the taxi fare. 
In respect of clients, the taxi fare is considered to be part of the
entertainment expense and no deduction is allowable.  For employees, if the fare is for travel from
home to the place of entertainment (not being their place of employment) and
return home again, the benefit is considered to be for the facilitation of
entertainment and is not a separate benefit from the entertainment itself.

The result is that the employer would then have to rely on the total entertainment package being under $300 for the minor
benefit rule to apply.

However, if the Christmas function is held on the employer's premises and the employer chooses to send the employee home
by taxi, the taxi trip is FBT exempt provided that the trip is a single trip,
which began at the employee's place of work. 
The exemption would apply if the employee went from the work place to
home, or any other place.  However, the
exemption would not apply if the trip was broken and continued at some other
time.  For example, the employee gets a
taxi from the workplace and goes to a nightclub; that trip is deductible and
exempt from FBT.  If the employee later
gets another cab to home, that leg of the trip would be deductible to the
employer but FBT would be payable.

Note however, that if the employer is using the 50/50 split method of calculating FBT and deductions, the taxi travel would
always be included in the cost of entertainment, and there would be no exempt
journey for travel from the workplace to home.

See also the article about Employee Christmas Parties and Gifts - Any FBT?