FBT Developments – Paid Parental Leave

The Fringe Benefits Tax Assessment Act 1986 (FBTAA) was amended so that employees can salary sacrifice their parental leave pay for non-cash remuneration where that arrangement is offered by the employer.

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What is an agency arrangement?

From a strictly legal point of view, an agency arrangement is simply one where one person (the agent) is given the authority to act on behalf of another person (the principal). The important point though is that in a true agency arrangement, whatever the agent does under the arrangement will bind the principal.

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FBT – ATO Considers Provision of Internet Access Under 58X Exemption

The subject of our discussion in last month’s FBT article was the primarily work use requirement of a laptop computer for purposes of the section 58X exemption. Another aspect is whether the scope of such exemption extends to include costs incidental to its primary work use.

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Tax invoices under the new rules

Australia Health pays Motor Vehicle Registration renewals to Australia Transport for the many hundreds of vehicles it operates. The renewal notices include a CTP Insurance Information and Premium Offer document (the document) from the CTP insurer. This Offer document is almost identical to Tax Invoices received from the insurer, but these are not received by […]

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Attribution of GST

Council has sold a road reserve to the adjacent owner. An agreement has been raised to pay by 2 instalments the purchase price, which is $7,700. I have been informed that the full GST amount of $700 should be paid on the first instalment. Is this correct?

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Contractor reimbursements ‘ do they attract GST?

How do you determine whether GST needs to be added to a reimbursement of an expense incurred by a contractor.

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Salary Sacrifice and Award Pay Levels

Recently a college refused to accept a salary sacrifice arrangement requested by one of its teachers, until they received permission from Fair Work Australia.

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Time limits for refunds of unclaimed input tax credits

The court has recently confirmed that the Taxation Administration Act 1953 (which deals with time limits for claiming tax refunds) applies to refunds of unclaimed input tax credits. In the case of Australian Leisure Marine Pty Ltd and FCT a taxpayer was denied additional input tax credits (ITCs) relating to creditable importations because the claim […]

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New Tax Invoice Requirements

Summary Schedule 3 of the Tax Laws Amendment (2010 GST Administration Measures No. 2) Act 2010 amends the current rules that de…

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Division 81 – July 2010 Update

Although the Budget promised changes to the way Division 81 will operate we still have the pleasure of working with it for some time yet.

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