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Eligibility – Gift Deductibility and other NFP Tax Concessions – the ATO view of requisite nexus with Australia

In order to access income tax concessions (exemption from tax, gift deductibility status, and access to franking credit refunds), NFPs must meet certain degrees of nexus with Australia. This article outlines the tests and then discusses the nexus pre-condition governing entitlement to gift deductibility. In an accompanying article ‘Tax Exemption and Refund of Franking Credits […]

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Eligibility – Tax Exemption and Refundability of Franking Credits – the ATO view of the requisite nexus with Australia

This article accompanies another article which identifies Australian nexus pre-requisites for certain tax concessions relevant to NFPs and discussed the test applicable to certain deductible gift recipients. The present article focuses on the application of the different nexus test governing access to exemption for tax and refundability of franking credits.

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Payroll – Definition of ‘ordinary time earnings’

This article discusses the definition of ‘ordinary time earnings’, which is used as the basis for calculating an employer’s minimum superannuation guarantee contribution for their employees. Where an employer does not meet the minimum superannuation guarantee contribution, they will be liable for the superannuation guarantee charge (SGC).

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Salary Sacrifice Q&A – Termination-related payments and salary sacrifice

Question An employee is being terminated and it is proposed the following termination related payments will be made: Unused Annual Leave Unused LSL Payment in lieu of notice Gratuity Final pay up to termination date The employee wishes to salary sacrifice some or all of the payment into superannuation. There is no existing salary sacrifice […]

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Payroll Q&A – Victorian Workers Compensation and Fringe Benefits

Question We are a Section 57A FBT exempt employer. None of our employees receive benefits in total that exceed the $30,000 grossed up value and accordingly we do not pay FBT. We only report fringe benefits provided to employees through the employee payment summary where the aggregate taxable value (pre-gross up) of the benefits exceeds […]

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GST Q&A – Tax Invoices for credit card transactions below $82.50

Question Is there a requirement for staff to provide receipts for purchases made by credit card for GST inclusive purchases under $82.50? Is it possible to differentiate between ATO requirements and Audit requirements?

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FBT Q&A – Cars: ability to choose logbook or statutory method

Question When determining our FBT liability in regard to the various cars provided to staff for commuter travel, are we able to choose between the statutory method and log book method so as to use the method that results in the lowest FBT amount payable?

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GST Article – Vouchers

This article looks at how GST applies to vouchers, and highlights that not all vouchers are treated the same way under the GST provisions. In particular, it looks at vouchers issued to be redeemed for food and/or drink at events.

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Payroll Article – Changes to 2017/18 Payment Summary reporting requirements for Reportable Fringe Benefits

This article has some important practical points in relation to completion of 2017/18 PAYG Summaries.

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FBT Article – Third Party Car Parking Arrangements – FBT Consequences

This article sets out some avenues for thought in relation to employers assisting employees with car parking.

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