FBT – Remote area housing concessions – (Part 1 of 3)

It is stated in the ‘Productivity Commission 2020, Remote Area Tax Concessions and Payments, Study Report’ (Feb 2020), that remote Australia accounts for more than 85 per cent of Australia’s landmass but just 2 per cent of Australia’s population. Despite the Government announcing it would not proceed with proposed FBT changes recommended by the Productivity Commission that would have … Read more

GST – When is a pro forma invoice a Tax Invoice?

Does a pro forma invoice constitute a tax invoice? And if so, does a pro forma invoice allow an entity to claim GST credits?   Introduction It is not uncommon for businesses supplying goods or services to first issue a pro forma invoice to their clients before any goods or services are provided or agreed … Read more

The importance of good governance in your NFP to obtaining and retaining tax concessions

The ramifications of poor governance are regularly evidenced in the public domain and can lead to a loss of public trust and confidence and in extreme situations threaten the viability of an organisation. Every non-profit (NFP) organisation benefits from good governance and its contribution to an organisation gaining and retaining the confidence and trust of … Read more

Member Q&A – Can you salary sacrifice the cost of a laptop computer bag with no FBT payable?

Question We offer salary packaging on electronic devices providing certain conditions are met, the main condition being that the device is principally used for work purposes. In the case of laptop computers, often the staff member will purchase a laptop bag at or around the same time that they acquire the laptop. Can the cost … Read more

Payroll – And the changes to JobKeeper roll ever on…

As outlined in a recent TaxEd Update in this article, on 21 July 2020 the Treasurer announced that the JobKeeper Payment (JKP) scheme, which was due to end on 27 September 2020, would be extended from 28 September 2020 to 28 March 2021. This extension, colloquially known as ‘JobKeeper 2.0’, would also introduce modifications to … Read more

The ATO has raised some interesting issues in recent ‘COVID-19 and car fringe benefits’ guidance

On 14 August 2020 the ATO released guidance called ‘COVID-19 and car fringe benefits‘ dealing with certain issues related to determining the FBT treatment of cars in changed use scenarios arising from COVID-19. COVID-19 and car fringe benefits – what is the position taken by ATO The release is generally a re-statement of substantiation (log … Read more

Categories FBT

Eligibility – NFPs and viability

The ATO has released an article reminding not-for-profit entities that it is not just for profit businesses that need to review their viability in the current economic climate and provided a useful tool to assist such a review.   Prior to the announcement of the JobKeeper and JobSeeker scheme extensions, there was palpable concern about … Read more

GST and supplies of unimproved land

A question commonly received by TaxEd as a part of our Q&A service is whether the disposal of vacant land by a local council/government is subject to GST. This article looks at when a disposal of land may be GST-free under the disposals of unimproved land provisions. Introduction A question commonly received by TaxEd as … Read more

Categories GST