Articles

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 […]

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 […]

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 […]

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 employment role to a higher level. In most cases the […]

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 these questions? Answer Another important year end function for employers is reporting an employee’s ‘reportable […]

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 staff. There are various reasons why vouchers/gift […]

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 car benefits, there are two methods available, the statutory method and the operating cost method. Logbook […]

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 FBT year. Are we entitled to the full […]

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 has been a lifeline for businesses and not-for-profit entities alike, with many across various […]

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 activities and pays a dividend to the charity do the same rules apply? […]