Are you planning a splashy Christmas bash? Be warned – a big end-of-year bash at a swish venue with partners invited could leave you with a dreaded fringe benefits tax burden.

With the Government trying to boost revenue to reach its return-to-budget promise, businesses can avoid FBT by having their party:

Have you just been served and you don’t event know it?

Many directors are aware that they can become personally liable for certain unpaid taxation liabilities.  If you are a director, you must ensure your company is able to pay deducted or withheld tax, or take other remedial action, by the time it is due for payment.

As a director, if you fail to pay the company’s tax or take the appropriate remedial action before the tax is due, you automatically become liable for a penalty in the amount of the tax that is unpaid.  The provision encapsulates anyone who was a director at any time from when the tax was deducted to when it become payable.

According to recent reports by Colliers International Research, Southport region is one of the hottest development areas on the Gold Coast with over $8Billion worth of projects currently under way.