For certain not-for-profit (‘NFP’) employers, there is, in addition to the standard $30,000 or $17,000 FBT exemption or rebate cap a further grossed-up cap of $5,000 for salary packaged meal entertainment. It is common in many NFP sectors (e.g. healthcare, PBI’s etc) for employers to allow salary packaging of meal entertainment up to the $5,000 […]
Can takeaway food be treated as ‘meal entertainment’? Read More »
Question Following on from the recent Q&A titled ‘Reimbursement of ear pod headsets’ (September 2020 TaxEd Update) would you also consider cordless headphones (e.g. Sony Wireless ‘On Ear’ Headphones) to be portable electronic devices and headsets with a microphone (e.g. telephonist style headsets)? These type of headphones and headsets have their own battery and can
FBT Q&A – Headphones and headsets – portable electronic devices? Read More »
In the 2020 Federal Budget, eagle-eyed charities and advisers may have noticed that the Federal Government has allocated $2.9 million over three financial years to the Australian Charities and Not-for-Profits Commission (“ACNC”) to conduct risk reviews of charities. The ACNC has confirmed that it will use this funding to “undertake field-based compliance reviews to assess
Charities and the need to meet governance standards Read More »
In a previous article (see September 2020 TaxEd Update re Moffet case) we examined who is an employee for superannuation guarantee (‘SG) purposes, in particular the extent to which contracts for the ‘labour’ of a person cause the person to be an employee of the other party. In the Moffet case a dentist was held
Superannuation payments to independent contractors – The MWWD Case Read More »
In this, our last article of a three-part series focusing on remote area housing concessions, we focus on some of the lesser known and utilised provisions consisting of the following benefits: Remote area property Remote area property expense payment Remote area residential property option fee Remote area residential property repurchase consideration For those who have
FBT – Remote area housing concessions (Part 3 of 3) Read More »
Currently, unless the benefit satisfies the minor benefit exemption (under s. 58P of the Fringe Benefits Tax Assessment Act) FBT is payable where the employer provides training to (or reimburses expenses related to) a redundant or soon to be redundant employee and that training does not have a sufficient connection with the employee’s current employment
FBT exemption to be expanded for employer-provided training Read More »
Question Our organisation has decided to provide employees with paid days off when they are required to get tested for COVID and self-isolate. These paid days off will be provided by our organisation without a corresponding reduction in the employee’s leave entitlements and will be provided regardless of whether they are full-time, part-time or casual
Payroll Q&A – Additional Paid Leave Provided for COVID Testing and Self-Isolation Read More »
Currently the FBT legislation prescribes the form that certain records must take, which requires employers, and in some cases employees, to create additional records (including what are commonly referred to as ’employee declarations’) in order to comply with their FBT obligations. Most employers would agree this is cumbersome particularly where the FBT result can be
Federal Budget offers hope for reduction in FBT red tape Read More »
Question “Council has arranged for a third party to tow a vehicle due to it committing a traffic offence. After a certain period of non-collection by the owner, the agent will then sell the vehicle on our behalf and remit the proceeds to Council. Does this vehicle sale represent Council making a taxable supply that
Member Q&A – Is the sale of a ‘towed’ vehicle subject to GST? Read More »
Question A private company will provide funding of $20K to a College to award and provide incentives to indigenous Australians while also providing for education and employment opportunities. This funding will be paid by the College to the students as a ‘student of the year’ award and also for scholarships. A further $3K will be
GST Q&A – Receiving funding for student awards Read More »
