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Payroll – What to expect from the NSW Review of Payroll Tax Administration
The NSW Productivity Commission (the Commission) has presented its conclusions from its review of the administration of payroll tax (PRT)—Review of Payroll Tax Administration (the Review). The NSW Government has,…
Salary Packaging Q&A – S. 58X exemption: Do we need a declaration that covers portable electronic devices?
Question We would like to provide an employee with a declaration that shows they satisfy the requirements of an exempt benefit for an electronic device they have purchased. How should…
FBT – Can a smart watch be exempt from FBT?
The ATO has considered whether a smart watch can be exempt from FBT in a recent private binding ruling (PBR). The PBR discusses whether a specific type of smart watch…
GST Q&A – No-ABN withholding rules: A supplier hasn’t quoted their ABN. Do we need to withhold from their payment?
Question: Our supplier has stated that they have been deemed ineligible to obtain a new ABN. They believe this is due to their business turnover being below $35,000 a year. The supplier has…
FBT Q&A – Living-away-from-home allowance (LAFHA) for employee posting overseas: Food and accommodation
Question Council is planning to have an employee posting overseas for six months. For the reasonable food component, if Council only pays additional costs (ATO overseas reasonable limit minus $42…
Payroll Q&A – Genuine redundancy payments made to employees over the age of 65
Answer The specific provisions regarding genuine redundancy payments (GRPs) provide that an employee must be dismissed before the day they turn 65 for the payment to qualify as a GRP….
General – Should we apply for an ATO Class Ruling?
FBT, GST and other tax issues can be complex and can cause confusion about compliance requirements. We previously published an article discussing the use of Private Rulings to address this…
FBT Q&A – A list of salary-sacrifice benefits?
From an FBT and income tax perspective there is no restriction on the types, or amounts, of benefits that can be salary sacrificed by an employee. Refer to Taxation Ruling…
FBT – Fringe Benefits Tax Compliance Cost Review
The Taxation Board of Review is conducting a review of costs of complying with FBT. As part of the review, the Board is seeking to estimate compliance costs and identify…
Payroll – Definition of ‘ordinary time earnings’
‘Ordinary time earnings’ (OTE) is defined under s. 6(1) of the Superannuation Guarantee (Administration) Act 1992 (SGAA). OTE includes amounts paid in relation to ordinary hours of work including over-award…
Payroll Article – Changes to 2017/18 Payment Summary reporting requirements for Reportable Fringe Benefits
Changes to rules regarding eligibility measures for various Federal Government benefits/payments and income tests (effective 1 January and 1 July 2017) impact Reportable Fringe Benefit disclosure for all employers on…
Payroll Article – Payroll tax changes following the 2018-19 State and Territory budgets
With the release of the 2018-19 budgets for all Australian States and Territories, excluding South Australia, there have been several proposed and approved changes to payroll tax rates, thresholds, rebates…