GST Q&A – Reclaiming GST collected from income from sales

Council is considering joining a class action to reclaim GST collected from income from sales of various assets. If this is successful, it is possible that the ATO may attempt to reverse any ITC claimed by the purchaser as well. In this instance, is it possible that Council may have an obligation to refund the […]

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Speculation about the GST

With the budget looming, and commentators and politicians both expressing their concerns about the state of the economy, speculation turns to the future of the GST. There is no doubt that raising more money through changes to the GST would be the low-hanging fruit that entices treasurers of all persuasions (even though they might not […]

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PAYG Witholding on “allowances”

Generally employers must withhold from payments to employees, directors and office holders, and this applies to all full-time, part-time and casual employees. An amount must be withheld from the following payments to employees:

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What is an “employee” for FBT purposes?

Central to the enquiry of whether or not a fringe benefit has arisen is of course whether or not a benefit has been provided to an employee. In this context it is important understand the definitional parameters of the term “employee”.

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GST Q&A – Invoice Compliance

We sometimes receive invoice from first company (Company A) with their unique ABN requesting payment to second company (Company B with their unique ABN and separate bank details. Both of company exists in our system. To comply with tax law, we just want to know whether it is ok to process payment to Company B […]

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GST Q&A – Ticket sales for local theatre

The organisation that operates the local theatre has dissolved, with Council taking over operations. This will include the sale of tickets and paying running expenses. I would like to clarify Council’s position in regards to GST. There are three different scenarios:

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Creditable purpose ‘ the Rio Tinto Case

The recent Rio Tinto case examined the meaning of ‘creditable purpose’ – another vital GST concept. So why is it important? Well if you don’t acquire a thing for a creditable purpose, the acquisition is not a creditable acquisition (see s 11-5(a) of the GST Act). If a purchase is not a creditable acquisition, you […]

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GST Q&A – Donations Contributions, Sponsorships and Gifts

Are you able to give me some guidelines (perhaps like a flowchart) that can be applied in these cases to determine when GST should be part of the donations etc.?

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Effective salary packaging of “wages” and “bonuses”

The point of salary packaging is to ensure that income tax does not apply to the portion of remuneration that is received as ‘benefits’. If you fail in this objective, no FBT will be payable, the value of the salary ‘foregone’ will be subject to income tax and no packaging benefits will arise

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Test – Bitcoin as property for FBT purposes. TD 2014/28

Is provision of bitcoin by an employer to an employee in respect of their employment a property fringe benefit for the purposes of subsection 136(1) of the FBTAA 1986 ?

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