ATO: Fringe Benefit’s Tax Rates 2024-2025
A fringe benefit is a ‘payment’ to an employee, but in a different form to salary or wages. According to the FBT legislation, a fringe benefit is a benefit provided in respect of employment. This effectively means a benefit is provided to somebody because they are an employee. These rates and thresholds apply for the […]
ATO – lower company tax rate
From the 2021–22 income year, companies that are base rate entities must apply the 25% company tax rate. The rate was previously 27.5% from the 2017–18 to 2019–20 income years and 26% in the 2020–21 income year. For your company to be a ‘base rate entity’, it needs to meet the following eligibility criteria: Your […]