tax assessment act
Relocation Benefits
May 2009The 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...
Electronic Record Keeping
March 2009What does the ATO expect of businesses? Section 262A of the Income Tax Assessment Act 1936 states that a person carrying on a business must keep records that record and explain all transactions and acts engaged in by the business that are relevant to the Australian income tax legislation.Earlier this...
