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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 PCG 2016/8 replaces the now withdrawn Practice Statement Law...
Payroll – Reportable super – what is reportable Part 2
2 June 2016
This article resumes discussion of reporting of superannuation payments on the employee's payment summary at year end. Part 1, last month, considered the basic position. In particular, it noted that an employee's ability to influence the amount of the contribution...
Payroll – Single Touch Payroll
2 June 2016
Background On 28 December 2014, the previous Minister for Small Business, Bruce Billson, and the Assistant Treasurer, Josh Frydenberg, announced that the Government will cut red tape for employers by simplifying tax and superannuation reporting obligations through 'Single Touch Payroll' (STP). What...
Payroll – NSW extends Payroll Tax exemption for local councils
2 June 2016
Legislation recently passed by the NSW Parliament extends the existing NSW payroll tax (PRT) exemption for wages paid by a wholly owned subsidiary of a local Council. The legislation has now received Royal Assent and the change is effective 11...
GST Payments between Government related entities
2 June 2016
Taxable Supplies Generally An entity makes a taxable supply where the following conditions are met: (a) the supply is made for consideration; (b) the supply is made in the course or furtherance of carrying on an enterprise;(c) the supply is connected with Australia;...
FBT Q&A – Log book requirements
2 June 2016
A vehicle logbook was completed for a 12 week period during the 2011 FBT year. Is this log book valid for the 2011 FBT year plus another 4 FBT years (i.e. expiring 31 March 2015)? If the log book is not...
FBT Q&A – FBT – Relocation transport for employee and family
2 June 2016
Question: We have an employee who worked for us for almost five years under a 457 Business Visa sponsorship arrangement. Upon completing his employment at our expense, and as part of the sponsorship obligations, the employee was reimbursed for the one-way economy...
GST Q&A – No ABN
2 June 2016
Question: We have a supplier whose ABN does not match their trading name. We have asked them to update the trading name or change their invoices to reflect what is registered with the ABR, but this has not been done. Can...
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...

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