By Muhammad Naveed on January 23, 2025
Cash payment for getting the vaccine If you give your employees a cash payment for getting vaccinated (for example, a $200 payment), you need to:•report the payment via Single Touch Payroll (STP) as part of the employee's salary or wages•withhold tax from the amount under pay as you go (PAYG) withholding, and•include the amount in […]
Continue ReadingBy Muhammad Naveed on January 23, 2025
Private use of an electric vehicle - what you need to do If your employee uses an electric vehicle for private purposes or the vehicle is taken to be available for their private use, you need to:•work out if the electric vehicle FBT exemption applies•if the benefit is not exempt, work out the taxable value […]
Continue ReadingBy Muhammad Naveed on January 23, 2025
Your employer tax and super obligations If you are a foreign employer, you may have Australian tax and super obligations for your employees. This depends on your employee's individual circumstances including:•their residency status for tax purposes•the source of any employment income earned by the employee•the application of a DTA, if they are a foreign resident. […]
Continue ReadingBy Muhammad Naveed on January 23, 2025
JobKeeper payment Question: How do I know if my business is eligible for the JobKeeper payment? Answer: Employers will be eligible for the JobKeeper payment if all of the following apply: You should note that the turnover calculation is based on GST turnover, but there are some modifications, including disregarding GST grouping where two or more associated […]
Continue ReadingBy Muhammad Naveed on January 23, 2025
Work laptop, other portable electronic device and tools of trade You may have given or loaned certain eligible work-related items to your employee so they could work from home as a result of COVID-19 or reimbursed them for expenditure they incurred on these items. An eligible work-related item is exempt from FBT if it is:•primarily […]
Continue ReadingBy Muhammad Naveed on January 23, 2025
Garaging a car at an employee's home Generally, a car fringe benefit will arise where you make a car you own or lease available for the private use of an employee. Where your employee is garaging a work car at home, you may be providing them with a car fringe benefit. For FBT purposes, a car is […]
Continue ReadingBy Muhammad Naveed on January 22, 2025
The Tax Office advised that forward compliance arrangements (FCAs) have been discussed at this forum at a number of meetings and as requested at the 13 November 2008 meeting members were provided with a paper copy of a sanitised version of an FBT FCA. In this arrangement there was an existing GST FCA in place […]
Continue ReadingBy Muhammad Naveed on January 22, 2025
At the 11 November 2010 meeting, the ATO undertook to advise members of the progress of the internal review. At the 17 February 2011 meeting the ATO advised that this matter is being managed as a Priority Technical Issue (PTI) and a resolution time frame was yet to be confirmed. At the 12 May 2011 […]
Continue ReadingBy Muhammad Naveed on January 20, 2025
What this Ruling is about 1. This Ruling sets out the fringe benefits tax consequences of the provision of Opal cards by employers to their employees, that allow for free travel across the Opal network. 2. Details of this scheme are set out in paragraphs 8 to 15 of this Ruling. 3. All legislative references […]
Continue ReadingBy Muhammad Naveed on January 20, 2025
What this Ruling is about 1. This Ruling sets out the fringe benefits tax (FBT) consequences for employer clients of Smartgroup Corporation Ltd's wholly owned subsidiaries who use the Smartgroup Logbook Solution for car logbook records and odometer records. In particular, this Ruling sets out when the reports generated by the Smartgroup Logbook Solution can […]
Continue ReadingBy Muhammad Naveed on January 20, 2025
What this Ruling is about 1. This Ruling sets out the fringe benefits tax (FBT) consequences for users of the reports generated by the Toyota Halo system, using the Data Communication Module (DCM) hardware, for car logbook and odometer records. In particular, this Ruling sets out when the reports generated by the Toyota Halo system, […]
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