September 2020

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 […]

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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

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Member Q&A – NFP Membership fees converted to donations and tax considerations

Question We are a not-for-profit membership based organisation. As a result of COVID-19 we have not been able to deliver our usual services to members and are considering refunding fees and, if so, how we treat membership fees already levied and paid. We understand it is possible for the member to be offered the opportunity

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Member Q&A – A car in a workshop for extensive repairs – ‘available for private use’?

Question One of our staff members is provided with a car fringe benefit by way of novated lease. The staff member met with an accident in which the car was extensively damaged. The vehicle was sent to a panel repairer for approximately 4 weeks. During this time, the staff member used a hire car provided

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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

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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

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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

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