It is not uncommon for an employee to be overpaid salary and subsequently enter into a repayment arrangement with their employer whereby post-tax deductions are made from fortnightly/monthly salary payments until the amount is repaid. In many of these arrangements, no interest is charged by the employer. In this article we look at whether a […]
Repayment of overpaid salary – can the minor benefit exemption apply? Read More »
In a recent AAT case the Australian Charities and Not-for-Profits Commission (‘ACNC’) was unsuccessful in arguing that ‘Global Citizen Ltd’ was not eligible to be registered under the charity sub-type ‘public benevolent institution’ (‘PBI’). Global Citizen Ltd is a very active and interesting organisation and part of the international Global Citizen network. You can getter
Another case, another ‘broader’ view of what is a Public Benevolent Institution? Read More »
Question In order to comply with COVID Public Health Orders , to allow employees to work from home, we incurred expenditure on upgrading the internet connection at an employee’s home. The expenditure incurred was in excess of the minor benefit limit of $300. Is the expenditure subject to FBT? If so, can Section 58X provide relief
Member Q&A – Employee internet upgrade costs, any FBT consequence? Read More »
Under the current super choice rules, employers are required to offer eligible new employees a choice of superannuation fund in order to meet their superannuation obligations. If a new employee fails to nominate their preferred superannuation fund, an employer can comply with the choice of fund rules, by making superannuation guarantee (SG) contributions on behalf
Employers: Are you ready for the new ‘stapling of super’ rules? Read More »
The majority of margin scheme transactions are relatively straightforward. However, various amendments to the margin scheme rules over the years (notably in 2005 and 2008) have seen a range anti-avoidance measures included which add layers of complexity when seeking to determine the two key questions: Am I eligible to apply the margin scheme? and How
GST and the margin scheme: Some recent observations Read More »
The concept of ‘salary sacrifice’, or ‘salary packaging’, has been a part of modern remuneration arrangements for many years now. In Taxation Ruling TR 2001/10 (issued way back in 2001) – the ATO outlines what it considers is an ‘effective’ salary sacrifice arrangement. In this article, we explore a recent case that involved a far
Is it really an effective salary sacrifice arrangement? Read More »
Despite the best of intentions, employers will from time to time find that they have underpaid/late paid employee superannuation entitlements. Once an underpayment or late payment is identified, corrective action is required. One of the unfortunate consequences is the potential imposition of penalties. It has been almost a year since the super guarantee (SG) amnesty
Superannuation Guarantee Charge and remission of penalties – the state of play 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.