The ATO has considered whether a smart watch can be exempt from FBT in a recent private binding ruling (PBR). The PBR discusses whether a specific type of smart watch would be considered a portable electronic device to which s. 58X of the FBTAA can apply. S. 58X of the FBTAA provides that each of …
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Question: Our supplier has stated that they have been deemed ineligible to obtain a new ABN. They believe this is due to their business turnover being below $35,000 a year. The supplier has proceeded to carry on their business, issuing invoices for amounts exceeding $82.50 (GST inclusive). Because the invoiced amounts exceed $82.50 and the supplier is adamant they …