Why I've been MIA...

As I mentioned before, it was because of so called preparing for exams and at the very same time (whyy whhhhy however no regrets) joined a running club that made me committed to meet up my group and trainer 4 times a week.

And in between I manage to squeeze, Jason Mraz concert, Comedy Festival shows and a trip to Singapore.

Wait that was just THAT week.

And now it’s work..

Oh dear, my eyes are bleeding analysing line after line, account after account of excel spreadsheets.

And all for what?

Fringe Benefit Tax

Say what?

For those in Malaysia (or anywhere else for that matter), here in Australia and in New Zealand, when you give an employee “benefits”, you, as the employer, have to pay taxes on that.

YUP MORE TAX.

So basically say you going for lunch or have coffee on the company account.

Fringe Benefit Tax (FBT for short mmkays)

So received tickets to theatre, shows, sport games.

FBT!

Car parking paid for.

FBT!

Basically anything that a benefit that does not comes under your taxable, assessable income, the EMPLOYER has to fork out the additional tax.

So imagine how back in Msia, the high flyers with their company cars, weekly luncheons, free holidays and accommodation.. imagine if each of those organisation have to pay tax on that!

At the highest bracket mind you. 46.5%

It’s not horror and such. There are a few exemptions but honestly that just covers the necessity like consumption of food and drinks at workplace, accommodation for employee having to live away from home while on project, certain medical but not anything excessive hence why in Aussieland you don’t get a see you doctor anytime card.

If anyone is reaaally interest to read up more on why I chose to do this (heheh not really by choice lah) check out the Australia Taxation Office (ATO) website.

Dateline is next week.. we are not going to make it.

So on top of that, there will be penalties and interest.

And we are still working on the amendment of 2007 and 2008 ones as well!

When will all this ennnnnnd?