Meet Shinda, who has just celebrated his one-year anniversary with the Nexis team. Shinda brings over 15 years’ worth of experience and knowledge about the industry to the team and is now managing a fabulous team of four. His best accounting and business advice is to...
The 2022 Fringe Benefits Tax (FBT) year has just ended. For all business vehicles of which there was private use you should record: Closing odometer reading on 31 March 2022 Car make, model, and registration details FBT Questionnaire We have developed a questionnaire...
The Australian Taxation Office (ATO) has released a package of draft advice and guidance that sets out tax treatment of: Trust entitlements arising out of reimbursement agreements Unpaid present entitlements of trust beneficiaries What does this mean? This important...
Not-for-profit (NFP) organisations can use the Fringe Benefits Tax (FBT) concessions to provide tax advantaged salaries to their employees. The FBT Concessions are essential in allowing NFPs to be able to provide services sustainably. FBT Concessions Some FBT...
It’s Valentine’s Day, so you might be celebrating the relationships in your life: with your significant other, your friends, or your fluffy companion. But you might be overlooking other important connections, like your business relationships. Such as with your...
Meet Brayden, our newest Accountant here at Nexis. After 7 months working with us, Brayden has brought a fresh and new perspective on age-old tax organisation strategies. As an Accountant, his best piece of advice for clients is to identify what their business’ most...
Once upon a time, accountants could just do their 60-hour work weeks absorbed in Excel and handwritten ledgers. While for some businesses that’s still the norm, the world is changing – and so are expectations. Excel, TechOne, financial statements, tax, CA/CPA...
The final part of Phase 1 of the ATO’s Single Touch Payroll (STP) Reporting requirements came into effect from 1 July 2021. Now we are getting ready for Phase 2. Phase 1 was a way of reporting employees’ tax and super to the ATO in real time. Phase 2 will...
The Australian Securities and Investments Commission has implemented a new legal requirement for all company directors to hold a Director ID. Each director must only apply for one director ID, even if you are a director of multiple companies. When you must...
The superannuation stapled fund measure is starting soon. This month in Nexis News, we want to simplify this new requirement for our business clients. What is this new requirement under the superannuation reform? The superannuation reform, Your Future, Your...
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