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Car fringe benefits: Can you reduce your FBT liability in 2021?
In this article, we explore some issues relevant to 2020/21 FBT compliance for cars. The reference in this article to cars is intended to cover only passenger vehicles, not utes,…
Member Q&A – Claiming GST on credit card surcharges
Question What are the requirements to be able to claim GST credits on a credit card surcharge that is not shown on the tax invoice? This typically arises when making…
Member Q&A – Is remote area housing rent assistance a reportable fringe benefit?
Question We wish to confirm whether benefits to staff consisting of remote area housing assistance in the form of employee rent reimbursements/payment are reportable fringe benefits? Answer The reportable fringe…
When is a COVID-19 grant from a local government subject to GST?
Due to the economic impact of COVID-19 many local councils (along with the state and federal government) are providing grants to assist with the economic recovery. In particular local councils…
FBT Q&A – Seasonal staff COVID-19 quarantining costs
Question We are recruiting seasonal workers for fruit picking employment from other states. These seasonal workers must / or may need to be in quarantine for a period on arrival…
Government announcement regarding easing financial reporting burdens for charities
In August 2018, an independent review of the Australian Charities and Not-for-profits Commission legislation was handed down and included 30 recommendations relating to objects, functions and powers; regulatory framework; red…
Why should you attend the 2021 FBT Roadshow?
The end of the FBT year draws near! Each year, there are new developments to keep in mind when preparing your organisation’s FBT return – and this year we have…
The importance of adequate and current substantiation of salary packaged expense reimbursements
What happens if an employee has not (and cannot) provide an employer with adequate and current substantiation of salary-packaged expense reimbursements? Are there problems for both the employer and the…
JobMaker hiring credit: What is it & how does it work?
What are the proposed details of the JobMaker Scheme? Can your organisation utilize the Scheme? Is a particular prospective employee within the ambit of the Scheme? The JobMaker Hiring…
Can takeaway food be treated as ‘meal entertainment’?
For certain not-for-profit (‘NFP’) employers, there is, in addition to the standard $30,000 or $17,000 FBT exemption or rebate cap a further grossed-up cap of $5,000 for salary packaged meal…
FBT Q&A – Headphones and headsets – portable electronic devices?
Question Following on from the recent Q&A titled ‘Reimbursement of ear pod headsets’ (September 2020 TaxEd Update) would you also consider cordless headphones (e.g. Sony Wireless ‘On Ear’ Headphones) to…
Charities and the need to meet governance standards
In the 2020 Federal Budget, eagle-eyed charities and advisers may have noticed that the Federal Government has allocated $2.9 million over three financial years to the Australian Charities and Not-for-Profits…