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Category assigned to articles which are accessible to the public without membership.

Eligibility ‘ Public Benevolent Institutions ‘ the ACNC’s view

Eligibility, Public / By /

Public Benevolent Institutions (PBIs) are able to access significant Commonwealth tax concessions. One the requirements for access to the concessions is recognition that the entity is a PBI for purposes of the ACNC. This article outlines the ACNC’s view as set out in the Commissioner’s Interpretation Statement: Public Benevolent Institutions (CIS 2016/03 -approved 19 December […]

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FBT Q&A ‘ Property provided to retiring employee

FBT, Public / By /

Question: A long serving employee is retiring and upon his departure we decided to provide him with ownership of their employer provided car. The provision of the car was (previously part of a salary sacrifice arrangement with the employee. What are the FBT implications of this arrangement? Has a property fringe benefit arisen? If so,

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Payroll Q&A ‘ Where a Councillor requests that amounts be paid to their Superannuation Fund should the amounts be shown as Reportable Employer Superannuation Contributions?

Payroll, Public / By /

Normally, amounts paid by a local government council to councillors are assessable to the councillor when received (notwithstanding an absence of an employer/employee relationship). It may also be taken to have been received under ss. 6-5(4) ITAA 1997 where it is otherwise dealt with on behalf of the councillor, or alternatively s. 15-2 of the

Payroll Q&A ‘ Where a Councillor requests that amounts be paid to their Superannuation Fund should the amounts be shown as Reportable Employer Superannuation Contributions? Read More »

Payroll Q&A – Genuine redundancy and re-employment

Payroll, Public / By /

Question: If a former employee (along with other employees) was made redundant in July 2016 due to an organisational restructure, are they able to return to work for the same employer in the same tax year either as an employee or contractor? Answer: A payment will qualify for concessional tax treatment as a genuine redundancy

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Payroll Q&A ‘ How Will Employers Report Reportable Fringe Benefits Under the Single Touch Payroll (STP) Proposals?

Payroll, Public / By /

Question: One of the advantages of the Single Touch Payroll (STP) initiative is for employers to do away with the need to issue Annual Payment Summaries to employees given the ATO will have the relevant information by way of what is provided to it under the STP system. What is the position though for Reportable

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FBT ‘ Simplified Approach for Calculating FBT for Fleet Cars

FBT, Public / By /

The operating cost method of calculating the FBT payable on a car fringe benefit requires more onerous paperwork to be kept than the statutory formula method. Part of this paperwork includes maintaining a log book of travel undertaken in the car for a minimum period of 12 weeks. The logbook that is kept is then

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FBT Q&A ‘ Non-Salary Packaged Entertainment of PBI Employers

FBT, Public / By /

Question: With the introduction of the $5,000 cap in regards to salary packaged meal entertainment and entertainment facility leasing expense benefits commencing from 1 April 2016, what impact does this have for a PBI employer where, for example, meal entertainment is provided directly to employees not via salary packaging. Is this now potentially subject to

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Eligibility Q&A – Deductibility of optional payment made to a DGR simultaneously with a payment to attend a fundraising function.

Eligibility, Public / By /

Question: The enquirer is a government body that conducts an art gallery, the ABC Gallery, under the auspices of the enquirer’s ABN. The enquirer will hold a fundraising function in conjunction with the separate XYZ Foundation (which has its own ABN). The Foundation is endorsed as a Deductible Gift Recipient (DGR). It is a public

Eligibility Q&A – Deductibility of optional payment made to a DGR simultaneously with a payment to attend a fundraising function. 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.