FBT Q&A – Headphones and headsets – portable electronic devices?

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 … Read more

Charities and the need to meet governance standards

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 … Read more

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

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 … Read more

FBT exemption to be expanded for employer-provided training

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 … Read more

Categories FBT

Payroll Q&A – Additional Paid Leave Provided for COVID Testing and Self-Isolation

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 … Read more

Federal Budget offers hope for reduction in FBT red tape

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 … Read more

Member Q&A – Is the sale of a ‘towed’ vehicle subject to GST?

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 … Read more

Categories GST

GST Q&A – Receiving funding for student awards

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 … Read more

Categories GST