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Eligibility – Charities operating overseas: What you need to know (Part 1)

According to the Australian Charities Report 2017 (most recent available) around 10% of Australian charities (inclusive of religious organisations) operate overseas in various ways. Some might send goods or services (whether directly or in partnership with overseas based charities) to support overseas projects or programs, some might directly undertake works on the ground in the …

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Eligibility – Income tax exemption: Is it mandatory for a charity to register with the ACNC?

Where an organisation’s purposes qualify it as a charity under tax law and it is eligible for income tax exemption as a result, does the entity have a choice of whether to register with the ACNC to be income tax exempt?   Registration with the Australian Charities and Not-for-profits Commission (ACNC) is a matter of …

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Eligibility & FBT – Securing PBI status during an FBT year: Effect on FBT exemption cap

If an employer gains public benevolent institution (PBI) status during the FBT year, do employees become eligible to use the full $30,000 FBT exemption cap in that year? In the June 2019 TaxEd Update, we considered the FBT implications of a public benevolent institution (PBI) that was previously entitled to the higher $30,000 FBT cap …

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Eligibility – Applying for a franking credit refund

Certain organisations—such as deductible gift recipients (DGRs) and income tax exempt entities that are endorsed by the ATO—may be eligible for a refund of franking credits. This article provides a general overview of the eligibility criteria for organisations, potential limits on claiming refunds and the refund application process. In June 2019, the ATO released information …

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Eligibility & FBT – PBIs that lose endorsement during an FBT year: Effect on FBT cap exemption access

The FBTAA provides an exemption for certain employers where the total taxable value of benefits (other than excluded benefits) provided do not exceed certain dollar caps. Currently the following thresholds apply: Employer 2018-19 2017-18 Public benevolent institution $30,000 $30,000 Health promotion charity $30,000 $30,000 Public & non-profit hospitals $17,000 $17,000 Public ambulance service $17,000 $17,000 …

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General Article – E-invoicing, not electronic invoicing – there is a difference

Money flows out under digital process such as Single Touch Payroll (STP) – what if money could flow in through a digital process? E-Invoicing (a step beyond electronic invoicing) is coming. Readers will be aware that for many businesses, money has been flowing out through a fully digitised process under the STP regime for some …

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