Tax & Super Newsletter March 2012 Technorati Tags: coprporate trustee, fringe benefit, Individual trsutee, self education expenses
Browsing Posts tagged fringe benefit
Watch the following video and learn about calculating the value of LAFHA: A business structure or entity is allowed to pay a living away from home allowance (LAFHA) to an employee who is living away from home as part of their work duties. This allowance is not treated as income under the PAYG scheme but will be subject to [...]
Watch this video to learn about the living away from home allowance and tax: In addition to the salary you can receive as an employee, you may also be entitled to a living away from home allowance (LAFHA) which is used to compensate for the additional expenses and any disadvantage that you may suffer while assigned elsewhere [...]
Annual fringe benefit tax returns are required to be lodged by all employers who provide “fringe benefits” to employees. The fringe benefits year runs from 1 April – 31 March Fringe benefits tax is payable by the employer Popular fringe benefits are: Car benefits Entertainment Loan benefits Specific exemptions include: Relocation costs Minor benefits Living [...]
With Christmas almost upon us, many employers will be shopping for Christmas gifts for their employees, clients and other special people. At this point it is important to consider the new rules relating to the minor fringe benefit exemption which can save employers $000’s. These rules now allow an employer to provide an “infrequent” benefit [...]
The Fringe Benefits Tax Assessment Act 1986 (“FBTAA”) provides for substantial concessions where an employer pays for various costs associated with relocating an employee. These expenses can be met directly by the employer or passed on to the employee as part of a salary sacrifice arrangement. These concessions are available only if an employee relocates [...]