What does a change of Government mean for TaxEd members?

With a change of Government comes new policies and the scrapping of policies previously announced under the former Government (which may include pending legislation lapsing in Parliament). In this article we have identified a few key tax areas in which the change of Government may affect issues previously covered for TaxEd members. FBT Exemption for … Read more

Superannuation changes: Removal of the $450 per month salary or wages threshold and increase in the superannuation guarantee rate to 10.5%

We note below a few important changes to the Superannuation Guarantee system that take effect on 1 July 2022. Removal of the $450 per month salary or wages threshold On 22 February 2022 the Treasury Laws Amendment (Enhancing Superannuation Outcomes For Australians and Helping Australian Businesses Invest) Bill 2021, received Royal Assent. The bill, among … Read more

ATO NFP update for the year ahead

The ATO have published their first issue for the 2022 year of their NFP blog Straight from the source. In this issue Assistant Commissioner Jennifer Moltisanti talks about the ATO’s ‘transformation roadmap’ and its objectives for NFPs for the year ahead. We recommend Government and NFP organisations register for Straight from the source as it always … Read more

Member Q&A – Employees working from interstate home

Question Our organisation conducts a business activity in an entity for which we are required to pay payroll tax in Victoria. This business activity is conducted from our business premises in Victoria near the NSW border.  A number of our employees live in NSW. Some of these employees work from home two or three days … Read more

FBT, tax exempt bodies and the Christmas Party

As the Christmas period approaches, many employers will provide a Christmas function to their staff members. This gives rise to the question, how does FBT apply to the function and any gifts provided to employees? In this article, we look at the general application of the FBT provisions to a tax-exempt body who provides to … Read more

Sporting clubs: Income tax exemption & new ATO draft ruling – anything changing?

Overview On 7 October 2021, the ATO issued draft ruling Taxation Ruling TR 2021/D6 Income tax: the games and sports exemption (‘the Draft Ruling’), which contains the Commissioner’s refreshed view on when an organisation will satisfy the requirements of the “games and sports exemption” (as set out in section 50-45 of the Income Tax Assessment … Read more

ACNC charity registration for all Non-Government DGRs required by 14 December 2022

Most Deductible Gift Recipient (‘DGR’) organisations are already registered with the ACNC as a charity, given, generally ACNC registration is a pre-condition of DGR status. In fact 41 of the 52 general DGR categories already require ACNC charity registration. However by 14 December 2022, the remaining 11 categories are also required to be registered. The … Read more