Tag Archives: disaster assistance

Fringe Benefits Tax

Accounting & Tax, Latest NewsBy Mitchell Partners 25/03/2019

Benefits during emergencies exempt from FBT If your business assists employees during an emergency, for example floods, bushfires etc, then fringe benefits tax is unlikely to apply to the assistance you provide. While we doubt anyone would be thinking about FBT during a crisis, it’s good to know that the tax system does not disadvantage…

Primary producers

Accounting & Tax, Latest NewsBy Mitchell Partners 12/11/2018

New immediate deduction for primary producers Legislation that passed Parliament last month will enable primary producers to claim an immediate deduction for fodder storage assets such as silos and hay sheds used to store grain and other animal feed. The deduction is available if the primary producer first uses the asset or has the asset…