Director's ID
Liz Gibbs • November 30, 2022
Director's ID update

Director ID requirements -
The ABRS have stated no action will be taken against directors who have not met the 30 November deadline if they have applied by 14 December 2022. And, the Commissioner has clarified the position on Directors who resign on or before the 30 November transitional deadline in ABRS 2022/D1 and ABRS 2022/D2.

It has been a long time coming, but the Government finally passed legislation increasing the instant asset write-off threshold for the year ending 30 June 2025 to $20,000. This was announced back in the 2024-25 Federal Budget but the Government faced a number of hurdles in terms of passing the legislation.

If your to-do list is starting to look more like a novel than a plan for the day, you’re not alone. It’s all too easy to get bogged down by endless tasks, unsure where to start or what really deserves your attention. That’s where the “Must, Should, Could” method comes in—a brilliantly simple way to cut through the clutter and focus on what truly matters.

The Australian Fringe Benefits Tax (FBT) year runs from 1 April to 31 March, and one of the key compliance requirements for employers providing motor vehicles to employees is recording odometer readings on 31 March each year. These readings help determine the taxable value of car fringe benefits and ensure accurate FBT calculations.