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Navigating Fringe Benefits Tax (FBT) and the ATO’s increased compliance activity

As the end of another Fringe Benefits Tax (FBT) year passes, it is crucial for businesses to be aware of the ATOs increased focus on employment tax compliance, including FBT. The ATO has recently ramped up its efforts to ensure employers are meeting their FBT obligations. They are doing this via a number of different

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Employee vs. Contractor: Why it’s important

In the ever-evolving landscape of employment obligations, it is crucial for small businesses to stay informed about the distinctions between employees and independent contractors. Recent developments have highlighted the need for employers to carefully review their operations to ensure compliance and avoid severe penalties, including potential jail time and reputational damage. PAYG (Pay As You

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Increasing sales is not enough, you must be increasing profit!

It is important for businesses to avoid growth for growth’s sake, and make sure that their increased turnover leads to increased profits. If your sale per unit doesn’t cover all costs within your business, and you lose money on a sale transaction, the more you sell, the more you will go backwards. You must know

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New Division 296 Superannuation Rules: What You Need to Know

We understand the importance of keeping our clients informed about changes in legislation that impact their Self Managed Superannuation Funds (SMSF). The proposed Division 296 tax is one such change that will affect high-balance superannuation accounts. In this article, we break down the key points of this proposed new rule and provide guidance for different scenarios. 1. Members

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Peta Grenfell & Brendon Murray at work desk

Dynamic duo behind Grenfell Murray

Peta Grenfell and Brendon Murray are the dynamic duo behind Grenfell Murray, your local Sunshine Coast business advisory and accounting experts. With deep roots in the community, they have a genuine passion for building strong relationships with their clients and helping Sunshine Coast businesses thrive. From their beginnings as Bentleys to their current identity as

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Strong growth on agenda for re-branded local accounting firm

One of the largest accounting and business advisory firms on the Sunshine Coast has undertaken a major rebrand as it looks to grow its client base and staff numbers.   Peta Grenfell and Brendon Murray have rebranded from Bentleys to create Grenfell Murray, a fully customised business advisory and accountancy services firm which focusses on their

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