Pooled cars and the Reportable Fringe Benefits exclusion – when does it apply? One of more frequent Reportable Fringe Benefit questions we receive around June and July each year is whether the taxable value of car fringe benefits is excluded from reporting under the ‘ pooled or shared car’ exclusion. In this article we explore […]
Pooled cars and the Reportable Fringe Benefits exclusion Read More »
Over recent years, we have produced numerous articles dealing with situations involving whether a ‘contractor’ may be an ’employee’ and entitled to superannuation under superannuation guarantee (SG) rules. Two recent cases Dental Corporation Pty Ltd v Moffet [2020] FCAFC 118 (see September 2020 TaxEd Update) and MWWD v Commissioner of Taxation [2020] AATA 4169 (see
Another ‘contractor’ entitled to superannuation Read More »
ATO announces data matching program on novated leases – employer implications? The ATO has advised it will be undertaking a data matching program with information sourced from novated lease providers in respect of the years 2018-19 to 2022-23. The ATO will source data from the following novated lease providers: Eclipx Group; LeasePlan; LeasePLUS; McMillan Shakespeare
ATO announces novated lease data matching project Read More »
As part of the 2021–22 Federal Budget, the Government announced that it will remove the current $450 per month minimum income threshold, below which employees do not have to be paid the superannuation guarantee by their employer. This is to take effect as of the first income year after Royal Assent of the enabling legislation
It is common knowledge that employers must make minimum superannuation guarantee (SG) contributions for their eligible employees. Currently, the minimum SG contribution is calculated based on the prescribed rate of 9.5%. The SG rate was originally set to increase to 10% in July 2015, however the Federal Government legislated to slow the gradual increases, delaying
The ATO has recently released a set of guidance documents (i.e., TR 2021/D1, PCG 2021/D1 and TR 2021/1) which outline the income tax and FBT treatment of the cost of travelling on work, as well as the distinction between travelling on work and living at a location. TR 2021/D1 explains the ATO’s preliminary views on
In recognition that many employees continue to work from home due to the impact of COVID-19 the ATO has further extended the period for which employees may use a ‘shortcut’ method to claim tax deductions for expenses incurred whilst working from home. The shortcut method permits an employee to claim a tax deduction on their
What are the proposed details of the JobMaker Scheme? Can your organisation utilize the Scheme? Is a particular prospective employee within the ambit of the Scheme? The JobMaker Hiring Credit scheme that was announced as part of the 2020-21 Federal Budget (‘Scheme’) is designed to improve the prospect of young individuals getting employment in
JobMaker hiring credit: What is it & how does it work? Read More »
Question My organisation was not able to pay its employees superannuation by the due date. What happens now? Answer Before outlining the consequences of missing a superannuation payment, we note the due dates for payment of superannuation, as outlined on the ATO website, are as follows: *When a due date falls on a weekend or
Payroll Q&A – Late payment of superannuation Read More »
In a previous article (see September 2020 TaxEd Update re Moffet case) we examined who is an employee for superannuation guarantee (‘SG) purposes, in particular the extent to which contracts for the ‘labour’ of a person cause the person to be an employee of the other party. In the Moffet case a dentist was held
Superannuation payments to independent contractors – The MWWD Case Read More »
