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The Virgin Airlines FBT and car parking case – appealed by ATO
In the May 2021 TaxEd Update, we discussed the implications of the recent Virgin Australia Airlines Pty Ltd v FCT [2021] FCA 523 (‘Virgin’) FBT and car parking case –…
Another ‘contractor’ entitled to superannuation
Over recent years, we have produced numerous articles dealing with situations involving whether a ‘contractor’ may be an ’employee’ and entitled to superannuation under superannuation guarantee (SG) rules. Two recent…
ATO announces novated lease data matching project
ATO announces data matching program on novated leases – employer implications? The ATO has advised it will be undertaking a data matching program with information sourced from novated lease providers…
Arrangements to access the FBT remote area housing exemption – what to watch out for
Non-arms length remote area housing arrangements? In 2020, in a three-part series (*links listed at the end of this article) we looked at the various remote area related housing concessions…
Member Q&A – When can you apply the 1/3rd FBT base value reduction?
Question In getting ready for the 2021/22 FBT year we are just wanting to clarify our understanding around when is it possible to apply the 1/3rd base value reduction for…
Enhancing the transparency of income tax exemptions for certain NFPs by way of requirement to submit online annual self review forms
Currently, non-charitable not-for-profits (NFPs) can self-assess their eligibility for income tax exemptions and do not have to report to, or otherwise be endorsed as income tax exempt by the ATO….
Looking into a recent case regarding car parking fringe benefits: Virgin Australia Airlines Pty Ltd v FCT
It is not often there is a court decision involving the interpretation of provisions of the Fringe Benefits Tax Assessment Act 1986. (FBT Act). Strangely though many of the recent…
Another look at the FBT treatment of equipment used in various work from home scenarios
We continue to get many questions seeking clarification regarding the FBT rules regarding how to treatment equipment ‘provided’ for use by employees in work from home scenarios. Whilst it is…
Member Q&A – GST and the treatment of credit card surcharges
Question Council is introducing a credit card processing fee to recover the cost of merchant fees incurred. We are seeking advice as to the correct GST treatment and confirmation as…
Member Q&A: Can the operating cost method be used even if no logbook has been kept?
Question We have had many staff home garage cars due to COVID lockdown and these cars were only driven for maintenance purposes. The ATO has indicated that for the purpose…
Is your entity really a Public Benevolent Institution?
A Public Benevolent Institution (PBI) seeking deductible gift recipient (DGR) status is required to be registered with the Australian Charities and Not-for-profits Commission (ACNC) under the charity subtype, PBI prior…
FBT Return lodgement dates, Rates and Thresholds for 2021/22
Below we have compiled a quick reference guide of the key FBT rates and thresholds for 2021/22 including a comparison to 2020/21. We have also included lodgement dates for the…