As an employer, you previously needed to pay fringe benefits tax (FBT) on electric cars provided to your employees. From 1 July 2022, you no longer need to pay FBT on benefits provided for eligible electric cars and associated expenses. Getting the green light You will now be exempt...
The local share market has finished little changed as strong economic data and further hawkish rhetoric from Federal Reserve officials undercut hopes for a pause in US interest rate hikes. The benchmark S&P/ASX200 index on Wednesday finished up just 5.3 points, or 0.07 per cent, at...
Back in the 1960s, owning a home was synonymous with being wealthy because of the prevailing socio-economic context, including high homeownership rates, early marriage and family formation, shorter life expectancy, and memories of the Great Depression. However, the concept of wealth has evolved significantly since...
Issuing loans or lending money comes with certain risks. This is why the majority of lenders require that borrowers provide a guarantor for their loan. If the borrower is unable to repay the debt on their own, a guarantor promises to do so in their stead....
With interest rates rising almost everywhere, including Australia and the United Kingdom, people have begun tightening their purse strings as best they can. However, decreasing spending to ensure your expenses match your reduced budget could mean barely any savings or none at all. Good thing there are...
Australians could be older than they think. Researchers say they can measure the biological age of a person’s brain and organs, challenging the belief that age is determined by your date of birth. And it’s good news for those who might show signs of early ageing –...
Australian ute drivers could save $42 million on fuel each year and cut more than 87,000 tonnes of carbon emissions by choosing more efficient models already on the market, a new study reveals. The Climate Council’s research on utes in Australia, released on Wednesday, found their’...
The treasurer has flagged tweaks to tax arrangements for gas producers as one possible option to repair the stretched federal budget. Presented with a “menu of options” from The Grattan Institute to cut spending and raise more revenue, Jim Chalmers said the government was already considering...
Pruning back stage-three tax cuts, raising the GST and cutting wasteful spending on major defence and transport projects are among a suite of options the government could consider to rein in the budget deficit. Treasurer Jim Chalmers is due to hand down his second budget in...
The treasurer has defended his decision to push ahead with his predecessor’s plan to axe a tax offset that saved low and middle income earners up to $1500 a year. Jim Chalmers has confirmed the tax offset for low and middle income earners will end in...