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Eligibility – Withholding Tax – Get a certificate and make it go away?
4 May 2016
Not-for-profit entities (NFPs) that are selling certain property will be affected by a new withholding tax, even though they are exempt from income tax. While a tax exempt NFP will be able to obtain a refund of the withholding tax from...
Eligibility – Taxpayer Alert 2016/5 – Purported tax-exempt non-profit 'foundations' used to evade or avoid taxation obligations
4 May 2016
The ATO is investigating the use of non-profit 'foundations' as vehicles to avoid or evade tax. The ATO's area of interest, its line of enquiry and actions are set out in TA 2016/5 - Purported tax-exempt non-profit 'foundations' used to...
Eligibility – ACNC Roundup – April 2016
4 May 2016
The ACNC has a future For some time there has been a question mark hanging over the ACNC - would the Federal Government retain it or disband it? The Turnbull Government has opted for retention. Reading between the lines of the joint (Small...
Fuel Tax Credits – Potential Developments on Apportionment
4 May 2016
Over recent years, the high cost of fuel in Australia has been a hot topic and one which has had a significant impact on the costs and profitability of many enterprises that use fuel in their day-to-day operations. The Abbott...
Payroll – NSW extends Payroll Tax exemption for local councils
4 May 2016
Legislation has been introduced into NSW Parliament that will have the effect of extending the existing payroll tax exemption (PRT exemption) that exists for wages paid by a subsidiary of a local Council. Under the proposed change, where an entity is...
Payroll – Reportable Super - what is reportable (Part 1)
4 May 2016
TaxEd recently ran a superannuation webinar, with a popular topic being the reporting of superannuation payments in the employee's payment summary at year end. This article, which is published in two parts, outlines the position. This first part deals with the...
GST – GST and Compulsory Land Acquisitions
4 May 2016
Generally, for the majority of transactions, the GST rules relating to the sale of real property should be pretty straightforward. For some transactions, however, the GST implications can be quite complex. Situations where land is compulsorily acquired, vested, or resumed by...
GST – Bad or Overdue Debts
4 May 2016
One of the general housekeeping matters as part of financial year end tax planning is reviewing debtors to determine whether there are any bad debts. Provided the debt is actually bad and is written off before 30 June, a taxpayer...
FBT – Changes to Adjusted Taxable Income
4 May 2016
Employees in receipt of fringe benefits who also receive family assistance and certain other government payments may be affected by a proposed change to the 'adjusted taxable income' formula. On 13th of April 2016 the ATO published the following advice: 'The Government...
FBT Q&A – 50/50 method for meal entertainment - what's included?
4 May 2016
Question: If we elect the 50/50 method for entertainment do we have to capture everything like coffees, meals when travelling, morning teas etc. and then apply the 50/50 method? If the CEO pays for dinner for 11 people including himself, and the...
FBT Q&A – Fringe benefits provided to deceased employee's family.
4 May 2016
Question: Is FBT payable by an employer where the employer pays for the funeral expenses of a deceased employee? Answer: The definition of employee for FBT proposes includes a current, future or former employee and therefore, as such, a deceased employee would appear...
Salary Packaging – Superannuation is complex – no matter how easy the politicians claim it is
6 April 2016
The constant changes to, and nuances of, the superannuation rules can present a challenge for payroll officers. A recent question posed to the TaxEd Enquiries team raised nuances in relation to a salary sacrificed contribution for an older worker. The question...
Fuel Tax Credits – incidental travel on public roads
6 April 2016
In Practical Compliance Guideline 2016/4, the ATO considers guidelines for what is fair and reasonable apportionment of taxable fuel by certain types of vehicles between travel that is on public roads and on non-public roads. The type of vehicles are: - Grader -...
Something all persons applying tax laws should know about – Law Companion Guidelines
6 April 2016
The ATO is issuing a new series of taxation rulings - 'Law Companion Guidelines' (LCGs). The purpose of these Guidelines is outlined in a draft document LCG 2015/D1. (The draft was issued on 10 March 2016 is open for comment until...
FBT – FBT 2015-16: The top 10 tips for getting your FBT right
6 April 2016
As the FBT return lodgement deadline looms it is time for the often thankless but nevertheless significant task of preparing the FBT return. We provide some tips below that may assist and have provided plenty of helpful links to the...

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