GST – 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 the tax consequences for organisations planning on hosting these events. It is important to also keep in mind the income tax consequences of any attendees, …

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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 instances the employer will pay the exiting employee a termination package. This termination package can consist of various elements such as unused leave payouts, transfers …

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GST – Queensland waste disposal levy: Is it subject to GST?

The Queensland Government introduced a waste levy from 1 July 2019 to reduce the amount of waste generated and disposed. The levy zone covers approximately 90% of Queensland’s population, including many of our TaxEd members. Landfill operators, such as local councils, are responsible for paying the levy to the Queensland Government. The Queensland Government has …

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Categories GST

Eligibility & FBT – PBIs that lose endorsement during an FBT year: Effect on FBT cap exemption access

The FBTAA provides an exemption for certain employers where the total taxable value of benefits (other than excluded benefits) provided do not exceed certain dollar caps. Currently the following thresholds apply: Employer 2018-19 2017-18 Public benevolent institution $30,000 $30,000 Health promotion charity $30,000 $30,000 Public & non-profit hospitals $17,000 $17,000 Public ambulance service $17,000 $17,000 …

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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 of non-cash benefits provided under an effective salary sacrifice arrangement. Effective salary sacrifice arrangements Most organisations offer salary sacrifice arrangements as part of remuneration packaging …

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