Fringe Benefits Tax (FBT) 2025 Year-End Update
April 11, 2025
The 2025 FBT year ended on 31 March 2025. Employers must review their FBT obligations to ensure compliance and minimize liabilities.
Key FBT Updates for 2025
1. FBT Rates Remain ...
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Crackdown on land and banking foreign investments
February 27, 2025
The government has announced a 2-year ban on foreign investors purchasing established homes, effective 1 April 2025 to 31 March 2027, to ease housing market pressure.
The new ban appli...
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S99B: payments or assets received from foreign trusts
December 19, 2024
The ATO has released draft Taxation Determination TD 2024/D2 and draft Practical Compliance Guideline PCG 2024/D1 on section 99B for public consultation.
TD...
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Mid-Year Economic and Fiscal Outlook 2024-25 released
December 19, 2024
The Australian Government’s Mid-Year Economic and Fiscal Outlook (MYEFO) 2024-25 released on 18 December 2024 introduces significant tax measures to enhance compliance and modernise syste...
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Changes to foreign resident capital gains tax
August 1, 2024
Treasury has issued a consultation paper Strengthening the foreign resident capital gains tax regime, proposing three measures to strengthen the foreign resident capital gains tax ("CGT") ...
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Cents per km for car expenses 2024-25 and after
July 22, 2024
The ATO has registered the Income Tax Assessment (Cents per Kilometre Deduction Rate for Car Expenses) Determination 2024, with effect from 1 July 2024. The Instrument sets the rate at 88 ...
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Reasonable travel and overtime meal allowance amounts for 2024-25
July 22, 2024
The ATO released TD 2024/3, with effect from 1 July 2024, providing the amounts it will treat as reasonable for 2024-25 for employee claims:
overtime meal expenses: $37.65
domes...
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Small Business and Charities Measures Bill 2023 passed
July 22, 2024
The Treasury Laws Amendment (Support for Small Business and Charities and Other Measures) Bill 2023 passed(as Act No. 52):
$20,000 instant asset write-off – for small businesse...
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ACT Budget 2024-25
July 22, 2024
The ACT Budget was handed down. The main tax highlights are:
HousingThe government will reduce the lowest marginal conveyance duty tax rate for home buyers from 0.49% to 0.4%. It will ...
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Changes to self-education deductions claim label
July 22, 2024
From the 2023–24 income year, eligible deductions for work-related self-education expenses will be claimed at Label D4 – Self-education expenses. Previously, formal education courses...
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