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GST – Significant proposed changes to GST recovery: Recovering estimates and directors’ personal liability

Our featured article for the month covers two proposed legislative changes to the recovery of GST – these are significant changes and are expected to be enacted very soon. These changes will hopefully not apply to your organisation, but we firmly believe it is crucial to be vigilant of potential risks caused by late BAS …

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FBT Q&A – Expense payment fringe benefits: Returning input tax credits to employees

We provide expense payment fringe benefits to our employees. This, in part, involves returning input tax credits (ITCs) to the employees via payroll. How are the returned ITCs treated in the hands of the employee? Question We provide expense payment fringe benefits to our employees. This, in part, involves returning input tax credits (ITCs) to …

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Eligibility – Applying for a franking credit refund

Certain organisations—such as deductible gift recipients (DGRs) and income tax exempt entities that are endorsed by the ATO—may be eligible for a refund of franking credits. This article provides a general overview of the eligibility criteria for organisations, potential limits on claiming refunds and the refund application process. In June 2019, the ATO released information …

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Payroll Q&A – Telecommunications allowance paid to councillors

Our councillors receive an annual telecommunications allowance that is paid fortnightly towards their telecommunications needs. How should this allowance be treated from a salary/wages, pay-as-you-go withholding (PAYGW) and superannuation perspective? Question Our councillors receive an annual telecommunications allowance that is paid fortnightly towards their telecommunications needs. How should this allowance be treated from a salary/wages, …

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FBT Q&A – 12-week register while two employees are on leave

Question We have chosen the ’12-week register’ method to calculate our car parking benefits. Within the designated period chosen, two of our employees have been on extended leave. Do we need to nominate a different 12-week period for these employees? Answer The 12-week period must be continuous and representative. Whether a chosen period is representative …

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Categories FBT

Salary Packaging – Novated leases: Trade-ins and cash contributions towards cost of car

Can an employee vehicle trade-in, or cash payment, contributed towards the acquisition of a car through a novated leased reduce the employer’s FBT base value? This is a common question but may have an unexpected outcome for employers. The provision of a car to an employee through novated lease financing is a widely used as …

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FBT Alert: Ride-sourcing travel services such as Uber may be subject to FBT

The ATO has recently confirmed their view that the FBT exemption for taxis only applies to vehicles that are licensed to operate as a taxi. (Refer to FBT and taxi travel – QC 59508). In other words, if your employees travel using ride-sourcing services such as Uber, the travel expense may be subject to FBT. …

Read moreFBT Alert: Ride-sourcing travel services such as Uber may be subject to FBT