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Fundraising events: Tax & GST treatment
We receive many queries about the income tax and GST implications of fundraising events, both from those hosting and those attending the events. We’ve prepared an example to help illustrate…
GST Q&A – GST on overseas transactions
Question We have two questions in relation to GST charged on transactions with overseas suppliers: Our council has recently received an invoice from an overseas supplier which does not have…
Payroll – Tips and traps of termination payments
Businesses will often face the termination of an employee’s employment. There are a number of reasons this may happen—for example, via an amicable resignation or via a redundancy—and in many…
Salary Packaging and FBT – Timing issues of employee contributions and the effect of a journal entry
Do you offer salary sacrifice arrangements to your employees? This article discusses the timing issues that you need to consider where an employee is required to contribute towards the costs…
Salary Packaging Q&A – Refunding after-tax contributions from ceased salary packaging arrangement
Our employee is ceasing their salary packaging arrangement and has excess after-tax contributions. If we refund these contributions, will they be subject to PAYG withholding? Alternatively, can we hold the…
GST – The GST gap: Key risk areas identified in the 2017-18 GST administration annual performance report
The GST gap, which is the difference between the amount of GST that should be paid and the actual amount paid, helps us identify common GST mistakes and areas that…
General Article – E-invoicing, not electronic invoicing – there is a difference
Money flows out under digital process such as Single Touch Payroll (STP) – what if money could flow in through a digital process? E-Invoicing (a step beyond electronic invoicing) is…
FBT Q&A – Car transferred to employee as part of redundancy package
Question An employee was made redundant and as part of his redundancy package there was the transfer of ownership of a vehicle to him with an approximate market value of $23,000….
FBT Q&A – Are exempt ‘workhorse cars’ subject to the car parking fringe benefit rules?
Do we need to pay FBT on the ‘car parking’ of a utility truck designed to carry a load of less than one tonne where there is no FBT payable…
FBT – Overseas conferences: The apportionment conundrum!
Do you have staff attending conferences away from their usual place of residence? Attendance at overseas and interstate conferences raises a key issue for FBT: the extent to which the…
FBT Q&A – What are the FBT implications of benefits and outplacement services provided to former employees?
What are the FBT implications of benefits provided to former employees? This Q&A discusses some possible exemptions for employers that provide benefits or services to an employee as part of…
Payroll – Why do we need to disclose exemption from FBT under s. 57A on an employee’s payment summary form?
Payment summaries now require an employer to indicate whether they are exempt from FBT under s. 57A of the FBTAA. This is due to changes to eligibility measures for various…