Question Council is introducing a credit card processing fee to recover the cost of merchant fees incurred. We are seeking advice as to the correct GST treatment and confirmation as to which of the two possible options is correct: The fee may be taxable or GST free, depending on the GST treatment of the underlying […]
Member Q&A – GST and the treatment of credit card surcharges Read More »
A Public Benevolent Institution (PBI) seeking deductible gift recipient (DGR) status is required to be registered with the Australian Charities and Not-for-profits Commission (ACNC) under the charity subtype, PBI prior to seeking DRG endorsement with the ATO. In assessing whether an organisation is a PBI, most Federal, State and Territory regulatory bodies including the ACNC
Is your entity really a Public Benevolent Institution? Read More »
Below we have compiled a quick reference guide of the key FBT rates and thresholds for 2021/22 including a comparison to 2020/21. We have also included lodgement dates for the FBT 2021 return. These rates and thresholds are available on the ATO website. ¹To be eligible for the 25 June 2021 lodgement date, a tax
FBT Return lodgement dates, Rates and Thresholds for 2021/22 Read More »
We have recently completed our annual FBT Roadshow and once again many of the complexities of FBT were revealed through questions raised in the sessions. One common issue centred around employee relocation costs and how best to structure these costs from both the employee and the employer’s perspective. In many cases it seems that the
Managing employee relocation costs in a tax effective manner Read More »
From TaxEd’s perspective, we regularly receive questions via our Q&A service asking whether grants paid or received by government entities (including departments and/or councils) and not-for-profits are subject to GST. The majority of these questions agitate on whether there is ‘sufficient nexus’, or whether there is ‘no supply’. In our responses, we regularly refer to
GST and grants: Need more guidance? Is there a better way? Read More »
In this article, we explore some issues relevant to 2020/21 FBT compliance for cars. The reference in this article to cars is intended to cover only passenger vehicles, not utes, vans etc. which may attract an FBT exemption in circumstances where (amongst other things) the only private travel is home/work travel, and/or other private travel
Car fringe benefits: Can you reduce your FBT liability in 2021? Read More »
Question What are the requirements to be able to claim GST credits on a credit card surcharge that is not shown on the tax invoice? This typically arises when making payments to suppliers using credit card via their on-line portal. Answer The ATO’s view on credit card surcharges is set out in GSTR 2014/2. Generally,
Member Q&A – Claiming GST on credit card surcharges Read More »
Question We wish to confirm whether benefits to staff consisting of remote area housing assistance in the form of employee rent reimbursements/payment are reportable fringe benefits? Answer The reportable fringe benefits regime does not apply to all fringe benefits an employer may provide to employees. Certain benefits (called ‘excluded benefits’) are not required to be
Member Q&A – Is remote area housing rent assistance a reportable fringe benefit? Read More »
Due to the economic impact of COVID-19 many local councils (along with the state and federal government) are providing grants to assist with the economic recovery. In particular local councils such as Melbourne City Council, City of Sydney and Brisbane City Council are providing grants to stimulate business and businesses in their locality. A question
When is a COVID-19 grant from a local government subject to GST? Read More »
This article provides a general summary of the subject covered and cannot be relied upon in relation to any specific instance. It is not intended to be, nor should it be relied upon as, a substitute for professional advice. TaxEd Pty Ltd and any person connected with its production disclaim any liability in connection with any use.