FBT Q&A ‘ What is meant by the term ‘payload’ of a vehicle?

The ‘payload’ or ‘carrying capacity’ of a vehicle simply means the maximum load your vehicle can carry as specified by the manufacturer.

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Salary Packaging Q&A ‘ Income protection and life insurance policy costs

If an organisation is planning to allow salary sacrificing for employees in regards to their income protection insurance and life insurance policy costs – will this result in a fringe benefit tax liability or is there a specific exemption that applies?

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GST Article ‘ I choose going concern but if … then I want the margin scheme to apply

A recent Administrative Appeals Tribunal had to consider how GST applies where the parties to a sale contract had agreed to treat the supply as a ‘going concern’ but if the purchaser was subject to Div. 135 of the GST Act, the margin scheme was to apply to the sale.

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GST Q&A ‘ GST and land improvements

A council recently sold an almost vacant block of land, containing small amounts of infrastructure requiring demolishing by the purchaser, after which the land will be suitable for residential development – does this sale satisfy the requirements of a taxable supply?

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GST Q&A ‘ GST and deposits

Is GST applied on security deposits paid for the hiring of a facility?

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Payroll Q&A ‘ Treatment of car allowance paid to employee re employer provided car

An organisation pays a lump sum car allowance to certain employees in relation to cars provided by the employer to the employee. Employees use car for business and private purposes. Are these allowances subject to PAYG withholding and how should they be shown for Payment Summary reporting purposes?

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Payroll Q&A ‘ Treatment of cents per KM car allowance in excess of 5000kms

An organsation pays cents per KM car allowances in relation to business travel – what is required re PAYG Withholding and Payment Summary reporting?

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GST Article ‘ Claiming ITCs in reliance on corporate credit card information

This article considers the ability to rely on Corporate Credit Card Statements to claim ITCs in lieu of holding Tax Invoices.

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Salary Packaging Article ‘ Superannuation guarantee salary sacrifice integrity measures introduced to protect employee entitlements

The Government has now tabled draft legislation to ensure employers cannot include salary packaged superannuation contributions to meet the employer SGC obligations.

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Salary Packaging Article ‘ Developments in STP and SGC

This article provides a ‘heads up’ on the roll out of Single Touch Payroll and proposed action on superannuation guarantee. It also briefly considers implications for directors of failure to make compulsory superannuation payments on time.

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