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GST and the Margin Scheme – issues arising from the recent Landcom Case
On 9 May 2022 the Federal Court of Australia handed down judgment in the Landcom Case (Landcom v Commissioner of Taxation [2022] FCA 510). The case deals with a number…
GST and Bad (or overdue) Debts – how are they dealt with
The end of the financial year (30 June) usually prompts a review of bad and doubtful debts. So, it is worth revisiting the GST rules that apply to bad debts….
Member Q&A – Lucky door prize won by an employee!
Question If a staff member attends a third party conference and wins a lucky door prize to the value of $1,000 (entry was based on providing a feedback form for…
Employer paid or reimbursed road and bridge tolls – a bridge too far?
Where an employer pays/reimburses an employee’s road toll expenditure or allows the employee to use the employer’s electronic road toll tag, a fringe benefit may arise, depending on the particular…
A successful claim for under award wage payments – how to treat?
A difficult aspect of employment is the unhappy ending. Occasionally cessation of employment will be followed by litigation regarding matters such as unfair dismissal or claims for underpaid wages. In…
Changes to the ATO process of applying for refunds of franking credits
As 30 June approaches, one of the annual end year processes that may be required of a not for profit (NFP) that receives dividend income from their investment portfolio or…
Member Q&A – In-house therapeutic massage, is FBT relief available?
Question We are considering providing in-house therapeutic massage for all employees. Is this an exempt fringe benefit pursuant to the ‘work related preventative health care’ exemption? The preventative health care…
Reportable Fringe Benefits – preparing to report
As employers prepare 2021/22 FBT returns it is normal practice to simultaneously prepare Reportable Fringe Benefits data attributable to individual employees. Some timely reminders as you go about this task:…
FBT and electric vehicles – how does it work?
At our recent TaxEd FBT Roadshow, the treatment of electric vehicles was regularly raised. In particular people wanted to confirm how electric cars are treated for FBT purposes. In short,…
Member Q&A – GST and payments to non-resident suppliers
We recently received a Q&A from a member asking about GST and invoices from overseas suppliers. Question: Our Accounts section is querying whether an overseas invoice with GST can be…
Member Q&A – How do we classify private trips undertaken in a ‘workhorse’ vehicle that is carrying bulky equipment?
Question If an employee, who has full private use of a one tonne vehicle and who is required to carry bulky items (e.g. ladder, tools etc,) travels to various sites…
The FBT car parking rules may be changing …. again!!
We issued a TaxEd Special Edition on 1 April 2022 (see here) drawing attention to the fact the car parking FBT rules may be changing again. Yes, again. On 29…