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Payroll Q&A – Genuine redundancy payments made to employees over the age of 65

Question I have an employee over 65 who is genuinely being made redundant due to their position no longer being required. They will receive redundancy payments per the council’s redundancy provisions. My question is, how should those payments be taxed? If the payment is not eligible for tax-free treatment under the bona-fide redundancy rules, are […]

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Payroll – Withholding on redundancy payments: Not as simple as it seems

The Board of Taxation has announced that it is conducting a review into FBT compliance costs. Click below to read how this could affect your organisation.

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Car fringe benefits: Recipient payments received after FBT year-end but before lodgement. What can I do?

Can the taxable value of a car fringe benefit be reduced by a recipient’s payment that has been made after the end of the Fringe Benefits Tax (FBT) year but prior to the lodgment of the FBT return?

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GST – GSTR 2018/1: Supplies of real property connected with Australia

The ATO has released GSTR 2018/1 dealing with supplies of real property connected with Australia. While the ATO view does not appear to have changed, the ruling is a useful reminder of the need to consider relevant definitions, the characterisation of the supply and the specific facts of transactions.

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General – Should we apply for an ATO Class Ruling?

Last month, we discussed the positives and negatives of applying for Private Rulings. Where a specific tax issue affects a group of taxpayers, it may be more effective to apply for a Class Ruling. This article identifies the key considerations for members seeking a Class Ruling.

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FBT Q&A – A list of salary-sacrifice benefits?

Question We are an FBT taxable employer seeking a list of salary sacrificing benefits and limits available to employees, and what FBT implications there may be.

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FBT – Fringe Benefits Tax Compliance Cost Review

The Board of Taxation has announced that it is conducting a review into FBT compliance costs. This process may involve, or at least interest, our readers.

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FBT – PCG 2018/3: Exempt car benefits and exempt residual benefits: compliance approach to determining private use of vehicles

The ATO has finalised its draft Practical Compliance Guideline with respect to its compliance approach in relation to determining private use of exempt vehicles.  This article considers the practical relevance of both the draft and finalised Guidelines.

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General – Should we apply for an ATO Private Ruling?

Use of Private Rulings is one means of dealing with uncertainty of application of FBT, GST and other taxes. This article looks at some advantages and disadvantages of seeking Private Rulings.

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GST – Damages for Loss

This article looks at the GST consequences where payments are made as damages for loss, including reference to the ATO’s longstanding view in GSTR 2001/4.

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