FBT Q&A – 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.

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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.

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Payroll Q&A – Cents per KM reimbursements

Reimbursement of business travel above the ATO approved rate without any PAYW deduction.

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GST – Correcting GST Errors

Soon after the introduction of the GST regime the ATO issued a GST Fact Sheet titled ‘Correcting GST Mistakes’. While this publication was recently reissued as Correcting GST Errors it continues to provide a useful administrative tool for taxpayers.

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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 […]

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FBT – FBT Treatment of overpaid salary

What are the FBT implications where an employer mistakenly overpays an employee and enters into an arrangement for the repayment of the overpaid amount over time?

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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.

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Eligibility – Thar’s a pot of gold in them thar Estates! Is there? Really?

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 […]

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GST Q&A -Â- GST registration and ABN’s for Trusts

ABN’s that have been provided for payments to be made relate to a Trust where the entity type is listed as a ‘Discretionary Trading Trust’ and is registered for GST but trading as a different company name, also registered for GST.

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GST Q&A – GST and dividends

Council received a dividend payment for shares held in a company.

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