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 from our sports facilities and open to the public). We expect that new café revenue will be equal to the existing sports club revenue, and […]
Member Q&A: Will new activities jeopardise an NFP’s income tax exemption? Read More »
Employers should now be fully conversant with reporting payroll data to the ATO under the single touch payroll (STP) Phase 2 rules. Whilst the Phase 2 initiative is intended to reduce an employer’s reporting burden by allowing the ATO to share payroll information with multiple government agencies (such as Services Australia), the additional data now
Are you reporting the correct STP information to the ATO? Read More »
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 they also risked revocation for failure to lodge AIS’s (source: extract from ACNC media release of 19 May 2022). This type of ACNC compliance activity
The ACNC’s Charity Register review project: What do you need to know? Read More »
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, the ATO has provided a timely reminder of a variety of issues that arise where cryptocurrency donations are to be accepted, specifically: Organisations need to
Accepting cryptocurrency donations Read More »
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 the Victorian-NSW border and so it would be impractical for the staff member to commute to work on an ongoing basis. As a result, the
Member Q&A – Providing temporary accommodation due to an employee’s relocation Read More »
Employee work-related car expense deductions and employer cents per KM reimbursements The ATO has finalised legislative instrument LI 2022/24 setting the cents per KM rate from 1 July 2022 at $0.78 per KM (the current rate is $0.72 per KM for the period ending 30 June 2022 ). It was proposed to increase the rate
A welcome rise to 78 cents per km from 1 July Read More »
GST, charities and nominal consideration The GST law contains a specific rule in s. 38-250 (referred to as ‘nominal consideration’) which treats non-commercial activities of certain entities as GST-free where nominal consideration is received for the supply. GST-free treatment for these types of supplies assists to both keep the ‘cost’ of the supply to recipients
GST, charities and nominal consideration: When can a supply be GST-free? Read More »
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 we have identified a few key tax areas in which the change of Government may affect issues previously covered for TaxEd members. FBT Exemption for
What does a change of Government mean for TaxEd members? Read More »
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 of interesting GST matters, and in this article we bring to your attention to one aspect of the case regarding GST and the margin scheme.
GST and the Margin Scheme – issues arising from the recent Landcom Case Read More »
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 fact, claims for underpaid wages often also occur where employment continues. Once claims are settled and amounts paid to resolve the matter employers then need
A successful claim for under award wage payments – how to treat? Read More »
