Eligibility ‘ Federal Budget Implications for NFPs

The Federal Budget presented on 9 May 2017 contained several taxation-related matters that will impact on, or otherwise interest, NFPs. Some matters will be relevant to all NFPs and others will have a more limited audience. (a) Matters for all NFPs to Note (i)       Foreign Resident Capital Gains Withholding Changes The parameters governing application of …

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Eligibility ‘ Foreign Resident Capital Gains Withholding Tax: Implications of the Budget Proposals

Summary of Key Practical Points: Many transactions that are outside the ambit of Foreign Resident Capital Gains Withholding Tax (in its current form) will fall within its scope from 1 July 2017, if the threshold change which was announced in the 2017­­­–18 Federal Budget is enacted. For contracts made after 30 June 2017 and providing …

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Salary Packaging ‘ First Home Super Saver: Employer briefing

Summary of Key Practical Points: In the near future, employers can expect employees to begin enquiring about making salary sacrifice payments into their superannuation funds for the purpose of accumulating deposits for their first homes under the First Home Super Saver Scheme (FHSS). The FHSS is a Federal Budget proposal only at this stage. It …

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FBT ‘ Ticket to ride!

Across our face-to-face training, online training and Q&As, we have noticed an increasing query rate in regards to the issue of staff being provided with tickets to various events. An example of this could include a local Council sponsoring a concert where the Council is provided with complimentary tickets by the organisers of the event. …

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FBT Q&A ‘ Benefits provided to unpaid volunteers

Question Volunteer workers of our organisation are invited to functions throughout the year. Tickets to these functions are available for sale to the general public. One of the benefits of these functions includes attending a lunch and watching the football with the CEO and other senior members of our organisation. The volunteers are also able …

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Salary Packaging Q&A ‘ Salary sacrifice of Council gym membership for family members

Question We are a local Council and we allow employees to use the Council owned and operated gym facilities and allow them to salary sacrifice the annual gym membership fee. Employee’s currently pay for a family member’s gym membership via a payroll deduction, presently it is treated as a post-tax contribution from their salary such …

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FBT Q&A ‘ Short term appointment in remote area: reimbursement of accommodation

Question A new employee has his accommodation expenses reimbursed. The accommodation is a B&B and is not owned or leased by us. The accommodation is in a remote area according to the FBT legislation. The employee is not from the local area and is employed by us for a short term (less than 12 month) …

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