FBT & Tax

The ATO recent changes from 12 March 2020 have increased the threshold for businesses instant asset write-off now to $150,000 (up from $30,000). Check out the thresholds and eligibility criteria for all business asset purchases on the ATO website here

For a long time, businesses using utilities were exempt from Fringe Benefits Tax (FBT) so long as they were used predominantly for business use and personal use was ‘minor, infrequent and irregular’. Now the ATO has released draft guidelines that outline that these vehicles will no longer be exempt and employers will need to have [...]

We can help! Insert happy face here. StreetFleet offers vehicle and fleet tracking through a very easy to use reporting system that gives you detailed insights and accurate data about your fleet. Intelligent. No fuss. Easy. Logbook Me is an ATO approved, driver friendly, tax logbook that is super easy to install. Other benefits of [...]

Yes! You can lease utility vehicles, however if you are looking to do this to avoid FBT, please note that leasing utilities with a 1 tonne carrying capacity does not automatically give you an FBT exemption as it depends on the vehicle usage. For more information on this, have a look at our article on [...]

Businesses of any size experience cash flow issues daily. From wages, capital items and tax there is always something that needs to be paid. By leasing and financing high costs assets like cars and equipment, you can: - Free up cash to invest in business expansion/or day to day operations - Have a fixed repayment [...]