In Taxation Ruling TR 2012/8, Commissioner considers whether amounts received in respect of legal costs incurred in disputes concerning termination of employment should be included in assessable income as an employment termination payment or as an assessable recoupment where the legal costs are tax deductible for income tax purposes.
A recent Addendum to GST Ruling GSTR 2002/5 has helped to clarify the circumstances in which a supply of real property subject to an existing tenancy can be treated as a GST-free supply of a ‘going concern’.
1. FBT changes for work-related electronic devices The Government will allow a FBT exemption from 1 April 2016 for small businesses with an aggregated annual turnover of less than $2 million that provide employees with more than one qualifying work-related portable electronic device, even where the items have substantially similar functions.
Effect of Federal Budget Measures on Payroll Fly-In Fly-Out and Drive-In Drive-Outs Lose Out The Zone Tax Offset will no longer be available for these types of workers where their normal residence is not within a “zone”. Effective 1 July 2015.
Should Council be assessing these fees in accordance with Div 81 or will the GST depend on the managers/lessees GST status. Many of the external parties are not registered for GST. Currently indicates if the fee includes GST or not. Should we be silent in this regard?
The general GST rules for registration, tax periods and GST returns, as well as the various turnover thresholds, will need to be modified to accommodate the new rules for intangible offshore supplies. The general rule is that non-residents are only required to be registered if they make supplies connected with the indirect tax zone, and […]