How Fringe Benefits Tax Works in Australia

How fringe tax benefit works

As a business owner in Australia, you’re probably familiar with the various taxes and obligations of running a company. One tax that often confuses people is the Fringe Benefits Tax (FBT).  The Australian Taxation Office (ATO) provides guidelines and regulations for FBT, ensuring businesses understand their obligations. In this article, we’ll break down what FBT […]

Small Business Guide: Checklist to Conquer the End of Financial Year

financial year

As we get closer to the financial year’s end, small businesses across Australia need to get their ducks in a row. A stressful season without the right preparation can burn you out and may leave you in a delightful mess of paperwork and bookkeeping.  This is your one-stop guide to prepare for the end of […]

Instant Asset Write-Off: Buying a Car Through Your Business

couple buying new car for dealership

As a small business owner in Australia, you always look for ways to streamline your operations, increase efficiency, save money, and grow your business. One of the common hurdles you might face on this journey could be travelling for business meetings or delivering goods and services. But have you considered buying a car for business […]

What is the SMSF Set Up Process?

What is the SMSF Set Up Process?

Self-managed superannuation funds (SMSFs) are popular among Australian investors looking for more control and flexibility over their retirement savings. Unlike traditional industry funds, SMSFs allow individuals to tailor their investments to meet their needs, giving them more control over their retirement planning and potentially benefiting from valuable tax concessions.  However, with this added freedom comes […]

How Do I Find My Tax File Number?

tax file number

Most of us spare a few thoughts for our tax file number until we need it. And when that moment strikes, many Australians not only realise that they don’t remember the number itself but are actually unsure where to locate it at all. Fortunately, our team at KNS Accountants has compiled a comprehensive guide answering […]

Negative Gearing: What it is and How it Works

ngeative gearing

Before you delve into the world of investment properties, it helps to look for any tools or strategies that will give your portfolio an edge. As you review your options, there’s one term you’ll likely come across more often than not – ‘negative gearing’. Mixed opinions circulate about its implications, advantages, and potential pitfalls. In […]

Termination and Redundancy Pay: What are the Tax Implications?

redundancy tax

Redundancy can bring on a whirlwind of emotions: uncertainty, stress, disappointment, and maybe even a bit of fear. Fortunately, to ease you through this transition, you will often receive a redundancy payment aligned with your period of continuous service. Understanding the ins and outs of redundancy, its associated payments, and the taxation laws around it […]

Three Steps To Help You Change Accountants

change accountants working on calculations

From having a strained relationship to outdated services, high fees, and lack of experience, there are countless reasons why people decide it’s time to change accountants.  A good accountant should provide support, punctual service and response times and always keep your best interests in mind. If your accountant is no longer living up to expectations, […]

3 Steps To Help You Change Accountants

ACCOUNTANT

From having a strained relationship to outdated services, high fees, and lack of experience, there are countless reasons why people decide it’s time to change accountants.  A good accountant should provide support, punctual service and response times and always keep your best interests in mind. If your accountant is no longer living up to expectations, […]