Where an employee on a 457 visa has completed their current work assignment in Australia, is the payment of airfares for the employee and their family to return to their country of origin subject to FBT?
From 1 July 2016 purchasers of certain Australian assets will need to withhold and remit to the ATO part of the purchase price. This article looks at action which vendors (including NFPs) can take in order to avoid this occurring in some instances.
Eligibility – Taxpayer Alert 2016/5 – Purported tax-exempt non-profit ‘foundations’ used to evade or avoid taxation obligations
used to evade or avoid taxation obligations The ATO is investigating the use of non-profit ‘foundations’ as vehicles to avoid or evade tax. This article outlines the scope of the ATO’s areas of interest, its line of enquiry and ATO action as set out in the Taxpayer Alert.
We are expecting the ATO to shortly publish its updated views on acceptable apportionment methodologies for calculating relevant FTCs. Making a FTC claim and applying an appropriate apportionment methodology could substantially reduce costs.
Legislation has been introduced into NSW Parliament that will extend the PRT exemption available for wages paid by a subsidiary of a local Council to entities that are wholly owned by more than one Council.
TaxEd recently ran a superannuation seminar. One popular topic was reporting of superannuation payments in the employee’s payment summary at year end. This article outlines the position. It is published in several parts.