Small Business ‘the Big Culprit’ Over FBT Gap Accountants Daily Podcast Network podcast

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Small business ‘the big culprit’ over FBT gap

1y ago 33:05

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Contenuto fornito da Accountants Daily and Momentum Media. Tutti i contenuti dei podcast, inclusi episodi, grafica e descrizioni dei podcast, vengono caricati e forniti direttamente da Accountants Daily and Momentum Media o dal partner della piattaforma podcast. Se ritieni che qualcuno stia utilizzando la tua opera protetta da copyright senza la tua autorizzazione, puoi seguire la procedura descritta qui https://it.player.fm/legal.

The ATO believes small business is the big culprit when it comes to compliance with FBT and it’s on a mission to round up the missing millions, says specialist Paul Mather on the latest Accountants Daily podcast.

Mr Mather, who is founder of FBT Salary Packaging Solutions, said the tax gap with FBT – the difference between what the ATO collected and what it believed it should be collecting – was 22 per cent, the largest for any tax.

“We've got a $4 billion revenue take on average and there’s about a $1 billion dollar gap,” he said. “The ATO believes that gap is predominantly with small business employers who are not within the FBT system.”

“The Tax Office acknowledges that tax agents are very good at working with income tax and GST with their clients, but not so good with FBT ... and they need to upskill a bit around FBT.

… continue reading

250 episodi

#Business #Accountants Daily #Momentum Media #MBA

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Small business ‘the big culprit’ over FBT gap

Accountants Daily Podcast Network

28 subscribers

published 1y ago

Condividi

MP3•Pagina principale dell'episodio

Contenuto fornito da Accountants Daily and Momentum Media. Tutti i contenuti dei podcast, inclusi episodi, grafica e descrizioni dei podcast, vengono caricati e forniti direttamente da Accountants Daily and Momentum Media o dal partner della piattaforma podcast. Se ritieni che qualcuno stia utilizzando la tua opera protetta da copyright senza la tua autorizzazione, puoi seguire la procedura descritta qui https://it.player.fm/legal.

The ATO believes small business is the big culprit when it comes to compliance with FBT and it’s on a mission to round up the missing millions, says specialist Paul Mather on the latest Accountants Daily podcast.

Mr Mather, who is founder of FBT Salary Packaging Solutions, said the tax gap with FBT – the difference between what the ATO collected and what it believed it should be collecting – was 22 per cent, the largest for any tax.

“We've got a $4 billion revenue take on average and there’s about a $1 billion dollar gap,” he said. “The ATO believes that gap is predominantly with small business employers who are not within the FBT system.”

“The Tax Office acknowledges that tax agents are very good at working with income tax and GST with their clients, but not so good with FBT ... and they need to upskill a bit around FBT.

… continue reading

250 episodi

#Business #Accountants Daily #Momentum Media #MBA

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