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FBT – Modified cars and the 'workhorse' exemption
5 July 2016
A car that is not a taxi, utility or panel van will qualify as a car eligible for exemption under s 8 of the FBT Act if it is not designed for the principal purpose of carrying passengers. According to MT...
Salary Packaging – Super Guarantee shortfall
5 July 2016
Just about every payroll officer in the country should already know that employer superannuation contributions must be paid quarterly so that the employer has no exposure to the Superannuation Guarantee Charge. Failure to make the contributions by the due date...
Eligibility – Are your 'responsible persons' truly responsible? – ACNC Governance Standard 4
5 July 2016
An entity registered with the Australian Charities and Not-for-Profit Commission (ACNC) is required to be controlled by persons (its responsible persons) who meet certain suitability standards. This article considers the ACNCs view of the minimum steps an organisation should take...
Eligibility – Fuel Tax Credits post script – incidental travel on public roads
5 July 2016
In our previous article 'Incidental Travel on Public Roads'(published in March 2016 newsletter), we discussed the release of Practical Compliance Guideline 2016/4, where the ATO considers guidelines for what is fair and reasonable apportionment of taxable fuel by certain types...
Eligibility – ATO updates Mutuality Guidelines
5 July 2016
For some not-for-profit entities, their objects and activities are such that 'blanket' income tax exemption is not available on the basis they do not align with specific or general categories of exemption available under the income tax legislation. The Mutuality Principle...
Eligibility – ATO releases application form for refund of franking credits relating to the 2015-16 income year
5 July 2016
As we mentioned in our article 'Certain Not-for-Profit Entities Entitled to Cash Refunds of Franking Credits' (published in December 2015 newsletter), near the end of each financial year the ATO writes to organisations that applied for and received a refund...
GST Q&A – Should grants of financial assistance be GST-inclusive or GST-exclusive?
5 July 2016
Background: Council have Community Development Fund Grants that are issued annually to local community groups. Agreements are signed that state that the funds granted must be spent in a specified way. If they are not spent within a specified timeframe as per...
FBT Q&A – Commercial car parking station
5 July 2016
Question: We provide employees with on-site car parking. The daily amount charged by nearby kerbside meter parking exceeds the car parking threshold. There are no other commercial car parks within a one kilometre radius. Does a car parking fringe benefit arise? Answer: For...
FBT Q&A – Travel diary requirements
5 July 2016
Question: Must a travel diary be completed every time an employee travels overnight for work purposes and what detail must a travel diary contain? Answer: Travel away from home for six or more consecutive nights, requires that a diary or similar document be...
Eligibility – Foreign Resident Withholding Tax – commences on 1 July 2016 – further information
2 June 2016
Last month (Withholding Tax – Get a certificate and make it go away?), we drew attention to the application of a withholding tax which all prospective vendors of real property and vendors of certain other property (e.g. certain shares or...
Eligibility – Exploring the requirements for income tax exemption and concessional FBT status for community service organisations.
2 June 2016
An ACNC registered charity enjoys, inter alia, income tax exemption and access to the FBT rebate. Where an organisation fails in a bid to secure registration as charity, the alternate category of an organisation established for community service purposes (which provides...
FBT – Rates and Thresholds for 2016/17
2 June 2016
The following FBT rates and thresholds apply for the 2016/17 FBT year. A variety of ATO rates and thresholds can be found at the ATO website. Key rates and thresholds for TaxEd members are: • FBT rate: 49% • FBT rebate rate:...
FBT – Employee obtaining benefits through fraudulent activity
2 June 2016
Consider a scenario whereby an employee obtains benefits in the course of their employment from the use of their employer's funds where the employer is unaware of the benefit and the funds were obtained fraudulently by the employee. An example could...
FBT – Employee on two contracts – remote area
2 June 2016
The FBT law provides for remote area housing benefits to be exempt from FBT. To access this exemption, the accommodation and the place of employment must be in a remote area. In situations where an employee works in both remote...
Fuel Tax Credits – Get Apportionment right and save - PCG 2016/8
2 June 2016
In early May 2016, the Australian Taxation Office released Practical Compliance Guideline 2016/8 (PCG 2016/8) regarding apportionment for Fuel Tax Credits (FTC) which provides claimants with assistance for apportionment for FTC. PCG 2016/8 replaces the now withdrawn Practice Statement Law...

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