For businesses managing a vehicle fleet, the Fuel Tax Credits system can be an excellent route for operators to claim full or partial credits for the fuel tax (excise or customs duty) that’s included in the price of fuel.
On Tuesday, 6th October, Federal Treasurer Josh Frydenberg handed down the 2020/21 Federal Budget, outlining a further $98 billion in financial economic support, however acknowledging a $200 billion deficit – the biggest since World War II.
The ATO has announced its extension of the time-limited ‘Shortcut’ Calculating method for Working from Home deductions, in light of increased COVID-19 restrictions in Victoria.
Available any-time, this series features Ian Walker - Managing Director & Smiljan Jankovic - Director, as they discuss the latest in tax news and legislative updates from across the month of June.
I have put together a handy tax update so you can ensure none of the following taxation topics have slipped past your radar.