Question In order to comply with COVID Public Health Orders , to allow employees to work from home, we incurred expenditure on upgrading the internet connection at an employee’s home. The expenditure incurred was in excess of the minor benefit limit of $300. Is the expenditure subject to FBT? If so, can Section 58X provide relief … Read more
Under the current super choice rules, employers are required to offer eligible new employees a choice of superannuation fund in order to meet their superannuation obligations. If a new employee fails to nominate their preferred superannuation fund, an employer can comply with the choice of fund rules, by making superannuation guarantee (SG) contributions on behalf … Read more
In a TaxEd article in May 2020 (click here) we outlined the 2020–21 Federal Budget proposal to introduce an FBT exemption for retraining and reskilling benefits that employers provide to redundant, or soon to be redundant, employees where the benefits may not be related to their current employment. The problem being fixed? Such retraining and … Read more
Most Deductible Gift Recipient (‘DGR’) organisations are already registered with the ACNC as a charity, given, generally ACNC registration is a pre-condition of DGR status. In fact 41 of the 52 general DGR categories already require ACNC charity registration. However by 14 December 2022, the remaining 11 categories are also required to be registered. The … Read more
Question Our office is planning to sponsor several university students completing tertiary education. The financial assistance will be $X per annum to fund higher education loans and other expenses. The students who accept the offer will be required to work for our organisation for a specific number of years upon graduation. The financial assistance would … Read more
It is a fact of life that not all employment arrangements end amicably and sometimes this results in the employer making a payment in settlement against alleged actions of the employer (e.g. wrongful dismissal etc.). Where such a payment is made, a question arises as to the nature of that payment. Is it an Employment … Read more
In the June 2021 Tax Update (click here) we covered an announcement in the 2021-22 Federal Budget that will have widespread application across the not-for-profit sector. The issue is summarised below. 2021–22 Federal Budget announcement As part of the 2021–22 Federal Budget, the Government has announced that it will enhance the transparency of income tax … Read more
Despite the best of intentions, employers will from time to time find that they have underpaid/late paid employee superannuation entitlements. Once an underpayment or late payment is identified, corrective action is required. One of the unfortunate consequences is the potential imposition of penalties. It has been almost a year since the super guarantee (SG) amnesty … Read more
Question We are looking at the option of providing ongoing working from home (WFH) arrangements to our corporate staff based on a 3 days in the office/2 days at home, or one week in the office/one week at home cycle. If it is the employee’s choice to work from home for some of the time, … Read more