Articles

Electronic media reports of the recent NSW Supreme Court decision guiding the NSW Rural Fire Service & Brigades Donation Fund on the application of $51m in bushfire donations have been confusingly brief. At least some donors will be disappointed. The decision has implications for both charities and their donors. The January 2020 bushfires led to […]

Certain FBT benefits in relation to pooled cars are excluded from an employee’s payment summary or income statement under STP. As the 2020 FBT return preparation process is completed, one of the tasks is to identify whether benefits are required to be disclosed as Reportable Fringe Benefits. A common issue that arises is whether the […]

What is the FBT relevance of employee contributions towards meal entertainment? Question We are a tax-exempt body and do not elect to use the 50-50 or 12 week register method to calculate the taxable value for meal entertainment provided during the FBT year. We provided an end of year party for our staff providing them […]

Entitlement to GST credits for entertainment expenditure is subject to the interplay of the FBT and income tax deduction provisions. We explore whether GST credits are available where entertainment expenditure is incurred in holding functions available to the general public. We have previously published an article that looks at the interaction between GST and FBT […]

Is reimbursement of a visa application cost subject to FBT? Question We have recently employed a new staff member and paid for their Visa application for their right to work in Australia. Is this subject to FBT as an expense payment benefit? Answer Transport provided to an employee and family members as a consequence of […]

TaxEd Director Michael Doran recently hosted the mega-popular tax podcast Tax Yak – he had a chat with Jennifer Moltisanti of the Australian Taxation Office about the range of economic stimulus measures to support Not-for-profits. The podcast episode will assist accounting practitioners to manage tax related matters for their NFP and charity clients, including eligibility, […]

The ATO has published guidance on some employer issues arising due COVID. The material includes assistance with questions relating to FBT and superannuation. The ATO has answered some questions frequently asked by employers in relation to matters that are connected with COVID. The information is buried in the ATO website. For ease of considering immediate […]

What actions need to be undertaken before the end of the financial year? What are the planning opportunities post the end of the financial year? What is the current state-of-play in relation to matters that are due to commence on 30 June? The end of the financial year is fast approaching. We outline some tips […]

Some readers will be working towards the FBT return COVID-19 lodgement deadline of 25 June 2020. A few FBT year end tips may reduce the stress. As the FBT return COVID-19 lodgement deadline of 25 June looms it is time for the often thankless but nevertheless significant task of preparing the FBT return. We provide […]

Providing an employee with a hire car raises the questions of whether a benefit is provided and if so how to determine its value. In response to a reader’s request we  highlight the FBT ramifications of providing hire cars to employees. Due to a range of circumstances, employers may have provided a hire car to […]