FBT Q&A Â– Does the eligible seminar exclusion for meal entertainment apply where the 50-50 method to value meal entertainment is chosen?
Where an employee attends an ‘eligible seminar’ they may be provided with a ‘sit down’ meal at the end of the seminar that constitutes meal entertainment.
FBT Q&A -Â- Will a waiver of overpaid salary always result in a debt waiver fringe benefit where the debt exceeds the minor benefit threshold?
Where an overpayment of salary is mistakenly made a subsequent waiver of the overpayment will usually result in a debt waiver fringe benefit occurring. However, this may not be the case where the debt is a bad debt or is considered uneconomical to recover.
GST – When digital products and services are purchased from overseas suppliers: changes to the GST regime
Draft legislation which provides for collection of GST on supplies of digital products and services to Australian residents has been introduced into the Commonwealth Parliament. The bill has two basic components – treatment of Australian consumers and treatment of Australian businesses/not-for profits. This article provides an overview of the proposed changes and focuses on the […]
FBT – The ATO is considering the ‘workhorse’ vehicle exemption and the minor, infrequent and irregular private use requirement.
The ATO is seeking input re a possible review of guidelines dealing with common FBT issues with vehicles, including the old chestnut of what is private use in the context of the ‘workhorse’ vehicle minor, infrequent and irregular exemption.
There have been calls within the not-for-profit sector for introduction of an estate duties. The calls suggest an estate duty will provide ‘untold’ bounty to the non-profit bodies. This article looks at the calls. – If you disagree with the comments feel free to engage in the debate through this newsletter by emailing the TaxEd […]