Build your financial security with OBT Financial Group – Lockyer Valley Business of the Year recipients and specialist financial advisers to individuals, business owners and farming families on accounting, tax, business advice and wealth planning for over 40 years.
The Australian Taxation Office (ATO) has made changes to the Fuel Tax Credit rates, impacting claiming credits for eligible fuel use.
Important fuel tax credit rate changes
The temporary reduction of fuel excise duty rates ended on 28 September 2022. Know what do to when calculating fuel tax credits from 29 September onwards.
Mariki and Francois Visser, Native Beeings
In just three years, they’ve established a boutique hobby business, keeping 400 hives and selling their Native Bee propolis worldwide. OBT Financial Group is helping Mariki and Francois Visser make the transition from bee-ing employees to business owners.
Important notice from OBT Financial Group
Due to the government announcing massive fiscal measures in the last two weeks we would like to encourage all our regular BAS clients to please organise to deliver (preferably by email) your March BAS documents/files to us as soon as possible as you may be entitled to the Boosting Cash Flow for Employers government stimulus package.
Government’s Stimulus Package in response to COVID-19
To help you gain a better understanding of the government stimulus measures that you may be able to access, we have summarised the key developments as they stand so far.
Meet your PAYG Withholding Obligations or lose your tax deduction
Are you meeting your Pay As You Go (PAYG) Withholding obligations? If you are running a business, you can no longer claim deductions for payments to employees or workers if you have not met your PAYG obligations. This applies to tax returns lodged for the 2020 year onwards
On-time BAS lodgement important more than ever
Read why, from 1 July 2019, if you don’t meet your PAYG withholding obligations for your workers, by not deducting tax from their payments and not reporting it to the ATO, you could lose your deduction.
