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Articles
FBT – Reimbursement of HELP funded employee course fees
We are often asked via the TaxEd members Q&A portal about the FBT treatment where an employee’s self-education course fees are reimbursed by their employer. It is very common for staff to undertake further study in areas that assist or enable them to perform their...
Payroll Q&A – Employer obligations for questions regarding reportable fringe benefits
Question Each year we get questions from employees regarding Reportable Fringe Benefits disclosed on their Income Statement that we are required to report under Single Touch Payroll and, previously, on their Payment summary. What are our obligations when dealing with...
GST and FBT – Giving vouchers to staff
It is relatively common for employers to buy and give vouchers or gift cards to staff (for example, as a gift or reward). This article looks at the GST and FBT implications that arise. Vouchers bought and given to staff Many employers provide vouchers or gift cards to...
FBT compliance strategies for cars that might reduce your FBT payable
When reflecting on an organisation’s FBT compliance, it is useful to consider any compliance strategies that may make compliance simpler and possibly achieve costs savings for future FBT years. When it comes to calculating an employer’s FBT obligation for...
FBT Q&A – Section 57A employer endorsed part way through the year
Does endorsement of a PBI employer part-way through the year allow access to the full $30,000 grossed up FBT exemption cap? Question We are an employer that is a public benevolent institution (PBI). We only became ‘endorsed’ by the ATO as a PBI part way through the...
Payroll – JobKeeper 2.0 – An overview
On 21 July 2020, the Government announced JobKeeper 2.0 to have effect from 29 September 2020 to 28 March 2021. This article considers some of the key modifications announced. Since its announcement on 30 March 2020, the JobKeeper Payment (‘JKP’) scheme...
Eligibility Q&A – When a charity receives investment income that includes dividends, can it claim a refund of franking credits?
Question Where a NFP charity receives investment income that includes dividends can it claim a refund of franking credits that are included on the dividend statements and if so how? If the charity wholly or partially owns a company that undertakes commercial...
Payments to volunteers at your NFP or charity: What to keep in mind
Volunteers play an important and necessary role within the not-for-profit (NFP) and charitable sector. Involving volunteers can add value and support your organisation in many ways including engaging a more diverse range of skills, experience and knowledge, building...
FBT Q&A – When can an employer reduce a car’s base value?
Question We have a staff member with a car fringe benefit provided under a novated lease. The lease began on 2/7/2015 for a term of 60 months (i.e. 5 years) and so was due to end on 2/7/2020. Prior to the lease expiring the staff member chose to rollover the lease for...
Payroll – The Superannuation Guarantee Amnesty deadline ends 7 Sept 2020
Employers are reminded that the deadline for the superannuation guarantee (SG) amnesty is 7 September 2020. We have covered the background to and details of the SG amnesty in previous articles – please refer to our article in the 3rd April 2020 TaxEd Update...