Author name: Steve Griffiths

ATO finalises car parking fringe benefit ruling – what’s changed?

On 16 June 2021, the Commissioner issued Taxation Ruling TR 2021/2 ‘Fringe benefits tax: car parking benefits’ (‘the Ruling’), setting out the Commissioner’s views on when the provision of car parking is a ‘car parking benefit’. The final ruling has been a long time coming and completes a process involving the issue of a draft […]

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Enhancing the transparency of income tax exemptions for certain NFPs by way of requirement to submit online annual self review forms

Currently, non-charitable not-for-profits (NFPs) can self-assess their eligibility for income tax exemptions and do not have to report to, or otherwise be endorsed as income tax exempt by the ATO. The type of organisations falling within this group include sports clubs and community service organisations. 2021–22 Federal Budget announcement As part of the 2021–22 Federal

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Removing the $450 per month threshold below which superannuation guarantee is not required to be provided by the employer

As part of the 2021–22 Federal Budget, the Government announced that it will remove the current $450 per month minimum income threshold, below which employees do not have to be paid the superannuation guarantee by their employer. This is to take effect as of the first income year after Royal Assent of the enabling legislation

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GST – The GST gap: Key risk areas identified in the 2017-18 GST administration annual performance report

The GST gap, which is the difference between the amount of GST that should be paid and the actual amount paid, helps us identify common GST mistakes and areas that attract the ATO’s attention. This article discusses key risk areas identified by the ATO and what you need to be aware of. The GST gap

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General Article – E-invoicing, not electronic invoicing – there is a difference

Money flows out under digital process such as Single Touch Payroll (STP) – what if money could flow in through a digital process? E-Invoicing (a step beyond electronic invoicing) is coming. Readers will be aware that for many businesses, money has been flowing out through a fully digitised process under the STP regime for some

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FBT Q&A – Car transferred to employee as part of redundancy package

Question An employee was made redundant and as part of his redundancy package there was the transfer of ownership of a vehicle to him with an approximate market value of $23,000. Please provide guidance as to correct treatment of this benefit. Answer As the car was agreed to be transferred as part of the employee’s redundancy

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