FBT exemption for fly-in fly-out extension – ATO administrative treatment
On 28 November 2011, the ATO released details of its administrative treatment regarding the extension of the FBT exemption for fly-in fly-out arrangements enacted by Tax Laws Amendment (2011 Measures No 6) Act 2011. Under the changes, s 47 of the FBTAA has been amended to provide an exemption from FBT for transport from an ...more
ATO publishes Taxation Statistics 2008-09
The ATO has published Taxation Statistics 2008-09 which features data compiled from tax returns from the 2008-09 income year and other financial information provided in activity statements and other FBT, GST and excise forms for the 2009-10 financial year. Highlights from the statistics for the 2008-09 year included: Personal tax: 12.3m individuals lodged income tax ...more
ATO Compliance Focus for 2010-11: Small to medium enterprises (turnover $2m-$250m)
ATO focus areas in the SME sector for 2010-11 include: a continuing focus on private groups and the tax compliance of the individuals controlling those groups and the entities within them. The ATO says it intends to increasingly use external data to automatically detect and link private groups and the individuals controlling them; a focus ...more
Meaning of "in the vicinity of" for car parking fringe benefits – Virgin Blue Airlines Pty Limited v FCT
The Federal Court has held that the phrase “in the vicinity of” as used in s 39A(1)(f) of the Fringe Benefits Tax Assessment Act 1986 (which relates to car parking fringe benefits) should be interpreted to mean “near”, “proximate” or “close”: Virgin Blue Airlines Pty Limited v FCT [2010] FCA 631 (Federal Court, Jagot J, ...more
Foreign employment income issues – lodgement of tax returns and FBT issues
The Assistant Treasurer has announced details of the procedures relating to the lodgment of tax returns by Australians working overseas and certain FBT arrangements. This announcement follows changes that have applied since 1 July 2009 which amended s23AG of the ITAA 1936 to remove the exemption from income tax for foreign employment income derived by ...more
Assistant Treasurer says potential double FBT from foreign income amendments will be addressed
The Assistant Treasurer says recent media speculation is wrong that the s 23AG foreign income amendments are complex and difficult. [The changes, that have applied since 1 July 2009, amended s 23AG of the ITAA 1936 to remove the exemption from income tax for foreign employment income derived by Australian resident individuals. They were made ...more
FBT and donations under salary sacrifice arrangements
The Tax Office has released details of its administrative treatment regarding the Government’s announcement that it will amend the FBT law to ensure that donations to deductible gift recipients (DGRs) made under salary sacrifice arrangements do not result in an employer incurring an FBT liability from the 2008-09 FBT year. The Tax Office said the ...more
FBT: 2009/10 thresholds, rates and more
The Tax Office has released four Determinations dealing with FBT rates, thresholds, etc for the 2009/10 FBT year (ie the FBT year commencing on 1 April 2009) – TD 2009/6, TD 2009/7 and TD 2009/9
ATO Compliance Program 2008-09; FBT Focus
The Tax Office has also released an SMSF Ruling, which outlines the Commissioner’s approach to the application of the sole purpose test in the superannuation legislation.
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