For a supply to be a taxable supply all of the following conditions need to be met: the supply is made for consideration; the supply is made in the course or furtherance of carrying on an enterprise; the supply is connected with the indirect tax zone (i.e. Australia); and the entity making the supply is …
On 5 April 2017, GST-free Supply (Child Care) Determination 2017 was registered. The Determination supersedes the GST-free Supply (Long Day Care and In-home Care) Determination 2017 which was registered on 23 March 2017. Background The Family Assistance Legislation Amendment (Jobs for Families Child Care Package) Act 2017 inserted a new streamlined s. 38-150 into the GST …
We were recently requested to consider the case of a TaxEd member organisation who had acquired a car by way of gift. That is, no payment was made for the car (including stamp duty on transfer which was paid by the donor). The car was subsequently allocated to an employee who had full commuter use …
On 6 April 2017, the Legislative Instrument PAYG Withholding variation for foreign resident capital gains withholding payments – income tax exempt entities (Legislative Instrument) was registered as F2017L00390. Background Purchasers and transferees of certain types of CGT assets must withhold an amount under Subdiv 14‑D of Schedule 1 to the TAA where they acquire the asset from …
This article looks at a private binding ruling (Authorisation Number: 1013103814672 – ‘the PBR’) that considers whether a person was an employee for purposes of the superannuation guarantee legislation. It deals with the status of a salesperson who receives only commission payments. The ruling usefully considers factors (and identifies associated case law) in determining whether …
Read morePayroll ‘ PBR on who is an employee for Super Guarantee Purpose
Question We recently sold a number of our fleet cars to a leasing company at market value then leased them back from the leasing company. The cars did not leave our premises and are still registered under our business name. The subject cars are all aged less than 4 years old. Do we retain the …
Question We have had a number of staff take on further higher education study during the FBT year. In all cases study leave under our current study leave policy has been approved, as it was accepted the course would be of benefit to the employee in undertaking their duties. Are such study costs otherwise deductible? …
Read moreFBT Q&A ‘ When are higher education course fees ‘otherwise deductible’ for FBT purposes?
Question Certain car parking spaces are allocated to employees who commute using motorcycles – does this give rise to an FBT liability? Answer The Division 10A car parking fringe benefits FBT rules are predicated on the basis that a car is parked. A car is defined for FBT purposes as a motor vehicle (except a …
Question Several years after a car was purchased, a GPS system was purchased and fitted to the vehicle. Do the costs that are incurred form part of the operating costs of the car for the year in which the device was purchased or is the cost added to the cost price of the vehicle? Answer …
Question We currently use the ABN Lookup to verify creditor details prior to setting the creditor up in our system. What do we do when the ABN does not match the name of the company on the invoice? We have many cases of this occurring including where the ABN is registered to a trust and …
Read moreGST Q&A ‘ What do we do when the ABN does not match the name of the company on the invoice?