Please enjoy this selection of publicly available articles.
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GST credits, FBT & Income Tax: the do’s and don’ts this festive season
In the lead-up to the festive season, here is a reminder on what GST credits are available for entertainment expenditure.
2022-23 Federal Budget: Key measures for NFPs
“A responsible Budget in uncertain times“ – Ministerial media release The Albanese Labor Government has handed down its first Federal Budget. Described as ‘a responsible Budget for uncertain times’, the…
Member Q&A: salary sacrifice at a Public Benevolent Institution and its impacts
Question I am new to working for a Public Benevolent Institution, and am wondering how salary sacrificed amounts impact the organisations payroll tax, workers compensation and other obligations. The organisation…
Member Q&A: Will new activities jeopardise an NFP’s income tax exemption?
Question We are a not-for-profit (NFP) sports club. We currently self-assess that we are income tax exempt. We have the opportunity to lease and operate a local café (located away…
Member Q&A: Salary sacrificing Council rates and FBT – how does it work?
Question We are a Council. If we allow our staff to salary sacrifice their Council rates can we apply the FBT in-house benefit valuation rules and the $1,000 in-house benefit…
Good News: The FBT exemption for electric vehicles is coming!
On the 29th of June 2022, the Government announced a proposal to provide an exemption for Fringe Benefits Tax (FBT) on electric cars from 1 July 2022. On the 27th…
Member Q&A: Does the 12 week register method reduce FBT for meal entertainment?
Question Our organisation generally elects to use the 50/50 method in the Division 9A ‘meal entertainment’ provisions of the Fringe Benefits Tax Assessment Act 1986 (the ‘FBT Act’). Can we…
Member Q&A: Interest-free arrangements to repay overpaid salary
Question We have inadvertently overpaid a staff member a significant amount of wages. At the moment, we are looking to setup a repayment plan, where the employee would pay back,…
The ACNC’s Charity Register review project: What do you need to know?
Almost 400 charities that failed to submit two or more ACNC Annual Information Statements (AIS’s) have lost their registration. In April 2022, the ACNC notified another almost 750 organisations that…
Accepting cryptocurrency donations
It is becoming increasingly common for charities and not-for-profits around the world to accept donations in the form of cryptocurrency. For Australian charities and not-for-profits looking to accept such donations,…
Member Q&A – Providing temporary accommodation due to an employee’s relocation
Question We have a staff member that has been appointed to a new role. The staff member currently works in our Melbourne office but the new role is located on…
What does a change of Government mean for TaxEd members?
With a change of Government comes new policies and the scrapping of policies previously announced under the former Government (which may include pending legislation lapsing in Parliament). In this article…