This article alerts you to some NFP sector- related developments over the past month. It deals with matters which have a more specialist nature or matters requiring only brief comment. There is material on Business Benchmarks, FBT – use of tax agents for FBT Returns, accounting for GST where total consideration is not known, accommodation […]
Food and drink consumed by an employee when travelling is generally regarded as sustenance and otherwise deductible, including where alcohol is consumed. However, is there a point in time when the alcohol consumption takes the food and drink outside of the sustenance category?
If an employee intends using their employer provided vehicle only for home to work travel with minimal other private travel is it worthwhile for FBT purposes providing them with an exempt vehicle?
FBT Q&A ‘ Are closing odometer records still required to be kept when valuing car fringe benefit taxable values?
Where car fringe benefits are being provided to staff, is it still necessary to keep closing odometer records?
It is a requirement for a car fringe benefit to arise that the car be used for a private purpose or be available for the private use of the employee. This article considers circumstances in which this condition is not met.
Will the use of a detailed trip legend be acceptable for the purposes of completing a valid log book entry?
Will the use of a car by two or more employees always result in the car being classified as a pool car for FBT reporting purposes?
Are mayors and councillors employees for FBT purposes?
FBT Q&A ‘ Whether the work of Councillors with home office and hot desk in Council Chambers is itinerant
Is the work of a councillor with a home office and a hot desk facility in the Council Chambers itinerant?