What this Ruling is about 1. This Ruling sets out the Commissioner's views on the meaning of 'charitable' in the terms 'charitable institution' and 'fund established for public charitable purposes' wherever those terms are used in the Income Tax Assessment Act 1997 (ITAA 1997), the Fringe Benefits Tax Assessment Act 1986 (FBTAA) and the Income Tax Assessment Act 1936 (ITAA 1936). […]
Learn MoreWhat this Ruling is about 1. This Ruling is about the tax consequences for employers, employees and trustees where bonus units are issued to employees as part of an employee benefits trust arrangement. In particular, it is about:•Whether, and in what circumstances, a payment received by an employee as a result of redemption of their […]
Learn MoreWhat this Ruling is about 1. This Ruling sets out the Commissioner's views on the application of the minor benefits exemption in section 58P of the Fringe Benefits Tax Assessment Act 1986 (FBTAA). 2. In this Ruling all legislative references are references to the FBTAA unless otherwise indicated. 3. This Ruling clarifies that a minor benefit that […]
Learn MoreWhat this Ruling is about 1. This Ruling explains the circumstances under which supplies of fringe benefits are subject to Goods and Services Tax (GST) under A New Tax System (Goods and Service Tax) Act 1999 ('GST Act'). This Ruling explains the entitlement to input tax credits for acquisitions and importations related to providing those benefits. It […]
Learn MoreWhat this Ruling is about Class of person/arrangement 1. This Ruling applies to employers that provide fringe benefits and have to determine their fringe benefits tax liability. 2. The purpose of this Ruling is to explain the operation of the new fringe benefits tax (FBT) gross-up formula that applies from 1 April 2000. The new gross-up formula was introduced, […]
Learn MoreWhat this Ruling is about Class of person/arrangement 1. This Ruling sets out the Commissioner's view of the application of section 8-1 of the Income Tax Assessment Act 1997 ('the Act') to costs incurred by employees and employers in preparing and administering employment agreements. An employment agreement is a reference to an agreement between an employee and […]
Learn MoreWhat this Ruling is about Class of person/arrangement 1. This Ruling considers what constitutes 'business premises' for the purposes of the Fringe Benefits Tax Assessment Act 1986 ('FBTAA'). The application of this concept is also explained, with particular emphasis on how it relates to the exemption granted in subsection 47(2) of the FBTAA for the provision of […]
Learn MoreWhat this Ruling is about Class of person/arrangement 1. This Ruling discusses benefits received by individuals from involvement in sport. The Ruling sets out the Commissioner's view as to whether these benefits are assessable income under the Income Tax Assessment Act 1936 (ITAA 1936) or the Income Tax Assessment Act 1997 (ITAA 1997). Where a sportsperson is uncertain whether […]
Learn MoreWhat this Ruling is about 1. This Ruling contains the Commissioner's opinion on certain motor vehicle lease novation arrangements. These arrangements involve the novation (or transfer) by an employee to an employer of some of the obligations under a motor vehicle lease. These arrangements are known as partial novations. The Ruling describes the consequences of […]
Learn MoreWhat this Ruling is about Class of person/arrangement 1. This Ruling applies to Members of the Commonwealth House of Representatives and of the Senate, Members of State Legislative Assemblies and Legislative Councils, Members of the Northern Territory and Australian Capital Territory Legislative Assemblies, and Ministers of the Crown (Ministers), collectively referred to in this Ruling […]
Learn MoreWhat this Ruling is about 1. This Ruling sets out the tax implications of flight rewards (see paragraph 2) received from consumer loyalty programs (see paragraph 3) following the decision of Foster J of the Federal Court in Payne v. FC of T (1996) 66 FCR 299; 96 ATC 4407; (1996) 32 ATR 516 (Payne's case). Rewards other […]
Learn MoreWhat this Ruling is about Class of person/arrangement 1. This Ruling looks at the concept of what is entertainment as it relates to the provision of food or drink for the purposes of applying the relevant provisions of the Fringe Benefits Tax Assessment Act 1986 (FBTAA) and the Income Tax Assessment Act 1997 (ITAA). 2. Part A of the Explanations section contains a […]
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