Articles
How to treat ‘wrongful dismissal’ type employer/employee settlements
It is a fact of life that not all employment arrangements end amicably and sometimes this results in the employer making a payment in settlement
NFPs: Get ready for annual reporting of self-assessment of income tax exemption eligibility
In the June 2021 Tax Update (click here) we covered an announcement in the 2021-22 Federal Budget that will have widespread application across the not-for-profit
Is it really an effective salary sacrifice arrangement?
The concept of ‘salary sacrifice’, or ‘salary packaging’, has been a part of modern remuneration arrangements for many years now. In Taxation Ruling TR 2001/10
Member Q&A – How can employee contributions help reduce FBT relating to car benefits?
Question We are looking at ways to reduce our FBT liability on our vehicle fleet. Specifically, we wish understand how employee contributions can help. For
Superannuation Guarantee Charge and remission of penalties – the state of play
Despite the best of intentions, employers will from time to time find that they have underpaid/late paid employee superannuation entitlements. Once an underpayment or late
Member Q&A: Can a local historical society secure Deductible Gift Recipient status?
Question We are a not-for-profit local historical society and the challenge of sourcing funding is never ending. Is it possible for us to secure Deductible
Member Q&A – How do we handle the reimbursement of employee expenditure on contact lenses and glasses?
Question During the FBT year we reimbursed an employee for contact lenses they purchased and another employee for the cost of glasses they acquired. Are
GST and the treatment of deposits – are forfeited deposits subject to GST?
We recently dealt with a TaxEd member query as to the correct GST treatment of a forfeited deposit arising in relation to a land sale
Pooled cars and the Reportable Fringe Benefits exclusion
Pooled cars and the Reportable Fringe Benefits exclusion – when does it apply? One of more frequent Reportable Fringe Benefit questions we receive around June
Member Q&A – Are fines issued to members subject to GST?
Question Our organisation is a not-for-profit sports association that operates a league for member clubs. Where a member club has breached certain membership rules imposed
Member Q&A – FBT travel and ongoing working from home arrangements
Question We are looking at the option of providing ongoing working from home (WFH) arrangements to our corporate staff based on a 3 days in
Member Q&A – Any FBT issues for discounted gym membership for ex-employees?
Question Council operates gym facilities available for use by the general public on Council premises. We understand that an employee’s use of the Council gym