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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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