TWO SIDES BLOG

WHAT IS FBT ANYWAY?

FBT or Fringe Benefits Tax is a complex area of tax that is commonly referred to as "the fun police" as it was the end of the long boozy lunch that could be claimed as a tax deduction. FBT was implemented in 1986 to improve the fairness of the taxation system and was designed to overcome deficiencies in the income tax law that allowed benefits other than salary and wages to be tax-free income. Liability for FBT is assessed on an annual basis, with the FBT year beginning 1 April and ending 31 March. FBT broadly is a tax on benefits provided to employees and their associates; vehicles, gift vouchers, bottles of wine, tickets to sporting events & shows, meals, reimbursements for private expens

USING TECHNOLOGY TO SCALE YOUR BUSINESS

In the past five to ten years we have seen rapid growth in technology across all sectors. Take the iPhone as an example – the first generation iPhone was released in 2007 in the United States and now it is available in 40 different countries with 3 different model available this year! Technology has fuelled demand for expecting things to happen fast and is forcing many firms to review their processes to increase efficiency and meet this demand. Access to information has never been more readily available which is why it is so important to use it to our advantage to be at the forefront of our industry. Early adoption in terms of technology and software is now the preference in great contrast t

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