August 2017

Payroll Q&A ‘ What is the rate of withholding where a supplier fails to provide an ABN?

Question Effective 1 July 2017 what is the rate of withholding where a supplier fails to provide an ABN? Answer Effective 1 July 2017, the rate of withholding where a supplier fails to provide an ABN reverts back to 47% (from 49%). The usual rules regarding the withholding and reporting obligations continue to apply, however.

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Salary Packaging Q&A ‘ salary packaging income protection insurance

Question An employer is considering allowing employees to salary package income protection insurance – what tax issues arise? Answer We assume the proposed salary packaging arrangements will be implemented in a way that would be recognized by the ATO as effective. In this regard see the general ATO ‘Requirements for an effective salary sacrifice arrangement’

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