In this third and final stage of the three-part plan introduced by the Australian government, tax rates are lowered for middle and high-income earners.

Stage 3 Tax Cuts: Who Benefits and Why the Contention?

The Coalition Government legislated amendments to personal income tax in the years 2018, 2019, and 2020. Collectively these changes are called the Personal Income Tax Plan. The plan was divided into three stages. The Stage 3 cuts are the third and last stage of the Turnbull and Morrison Government’s policies for tax reform.

A fringe benefit is a form of compensation provided to employees that goes beyond their normal salary or wages.

All You Need to Know About Fringe Benefits Tax

Fringe Benefits Tax (FBT) is essential to Australia’s tax structure. Understanding its implications is vital for both employers and employees. This article will delve into the crucial aspects of FBT, from defining what it is to explaining how it’s calculated and its effects on your tax obligations.