A Newsletter to our clients... October, 2015.

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1 AUSTRALIA WIDE TAXATION & PAYROLL TRAINING ACN ABN PHONE: A Newsletter to our clients... October, AWAITING INTRODUCTION OF LEGISLATION FOR MEAL ENTERTAINMENT CAP The Government recently announced the introduction of a separate single grossed up cap of $5,000 for salary sacrificed meal entertainment and entertainment facility leasing expenses (meal entertainment benefits) for employees of fringe benefits tax (FBT) exempt or rebatable organisations. Submissions in relation to the proposed meal entertainment cap closed on 21 August The Government received 60 submissions from affected entities. Most of those submissions requested an increase to the cap from $5,000 to $10,000. Treasury are currently considering the proposal and will be introducing legislation in due course. MODERN AWARDS TO INCLUDE PROVISION ALLOWING CASH OUT OF ANNUAL LEAVE The Full Bench of the Fair Work Commission (FWC) during their 4 yearly review of Modern awards acknowledged the current inequity between employees under a Modern award and those under certain Enterprise Agreements in relation to cashing out of annual leave. The FWC have agreed to alter the Modern Awards to provide for the cashing out of an employee s annual leave subject to the following conditions: A maximum of two weeks leave to be cashed out in any 12 months; An employee must retain at least four weeks of annual leave after they have cashed out their leave; The employee must be paid at least the full amount they would have been paid if they had taken the leave at the time it was cashed out; and The cashing out agreement must be in writing. The Full Bench also accepted the inclusions of Modern Award provisions allowing employers to direct employees to take excessive leave. The Commission has indicated this should be subject to the following conditions: Excessive leave is when an employee has accrued at least 8 weeks for non-shift workers and 10 weeks for shift workers; Employers cannot make a direction that will result in an employee s annual leave balance dropping below 6 weeks; and Before making a direction, the employer must meet with the employee to try to reach agreement on a plan to reduce or eliminate the excessive leave. The Commission is currently in the process of receiving submissions on the clauses referred to in its decision in preparation for changing the Modern Awards. FITNESS CLASS AT WORK SUBJECT TO FBT The Commissioner has issued ATO Interpretative Decision (ATO ID) ID 2015/25 stating his view that a residual benefit from an employee participating in a fitness class provided by their employer at the employer s premises is not an exempt benefit under s 47(2) of the Fringe Benefits Tax Assessment Act ATO ENGAGING WITH REGIONAL SMALL BUSINESS The ATO will be speaking to regional small business communities over the next several weeks on ATO initiatives that could save time and effort in their interactions with the ATO. These initiatives include on-line services through mygov, Small Business Newsroom, SuperStream and MyTax. Registration for the community events are required and can be made on the ATO website at: The next dates and locations are: 13 October 2015: Cairns, Queensland 15 October 2015: Port Pirie, South Australia 20 October 2015: Mount Gambier, South Australia 22 October 2015: Darwin, Northern Territory 5 November 2015: Geraldton, Western Australia 10 November 2015: Launceston, Tasmania, and 12 November 2015: Busselton, Western Australia. SMALL BUSINESSES CAN NOW CLAIM AN IMMEDIATE TAX DEDUCTION FOR PURCHASE OF ASSETS LESS THAN $20,000 Small businesses with an aggregate turnover of less than $2 million will be able to claim an immediate tax deduction for the cost of each and every depreciating asset they purchase for less than $20,000. New laws have passed that allow small businesses to claim an immediate deduction for assets they start to use or have installed ready for use provided each depreciable asset costs less than $20,000. This will temporarily replace the previous instant asset writeoff threshold of $1,000. The measure starts 7.30pm (AEST) 12 May 2015 and will end on 30 June Find out more at: Direct-taxes/Income-tax-for-businesses/Small-Business--- expanding-accelerated-depreciation/ Australia Wide Taxation & Payroll Training Page 1

2 NEW PAY AND CONDITION TOOLS AVAILABLE ON FAIR WORK Fair Work has made available on their website the following tools/calculators to assist employers in meeting their obligations in relation to pay and conditions for an employee. The Pay Calculator calculates base pay rates, allowances and penalty rates (including overtime). The Shift Calculator calculates the rates that will apply to specific shifts the employee may work. The Leave Calculator calculates the annual leave, leave loading and personal and carers leave the employee has accrued under their award or under the National Employment Standards (NES). The Notice and Redundancy Calculator calculates entitlements when employment ends, including notice to be given (by employer or employee) and redundancy pay entitlement under the employees award or NES. Note - this calculator should not be used if an enterprise agreement has more generous notice and redundancy entitlements than the NES. This calculation assumes that the employee had redundancy entitlements before 1 January Access all calculators at: SUPPORTING WORKING PARENTS The Australian Human Rights Commission has launched a new website ( to promote the understanding of rights and obligations in the workplace around pregnancy, parental leave and return to work. The new website offers quick guides, checklists and tool kits as well as tailored information for both employees and employers on a range of workplace issues affecting working parents including: assistance with understanding the law information for pregnant employees and pregnancy in the workplace commencing and returning from parental leave commencing or ending employment as a parent or while on parental leave. INCREASE TO FUEL TAX CREDITS Fuel tax credits have increased from 1 August 2015 in line with the CPI index, to find the new rates follow this link: ERRATUM TO REASONABLE TRAVEL ALLOWANCE RULING HELP FOR NOT FOR PROFIT (NFP) ADMINISTRATORS The TD 2015/14 which sets out the reasonable travel and overtime meal allowance expense amounts for the 2015/16 income year has been revised to remove Port Lincoln (SA), Port Macquarie (NSW), Port Pirie (SA) and Queanbeyan (NSW) Table 5: Tier 2 country centres replace with Lismore (NSW). UPDATE - SINGLE TOUCH PAYROLL Under Single Touch Payroll, employers accounting software will automatically report payroll information to the Australian Taxation Office (ATO) when employees are paid in order to eliminate the need for employers to report employee-related PAYG Withholding in their activity statements throughout the year and employee payment summaries at the end of the year. Treasury is still considering options after receiving advice in relation to recent feedback and consultation. The key items were: Extension of time frames for implementation as there is still a level of uncertainty. It was initially scheduled for a commencement date of 1 July Scope and intent of how a pilot could be run. The consideration and involvement of software developers is needed. The scope of the pilot will need to be known in order to get business participation in the pilot program. Information that developers have provided will feed into a first draft design principle document. There is a need to come up with outcomes, reporting chain and requirements, discuss and agree on the correct solution. Ideas coming from the working groups will be feed into the design process. If you re an administrator, for example a treasurer, office bearer or employee involved in the tax administration of a not-for-profit (NFP) organisation, the ATO have three products specifically aimed to help you in your role. 1. An Induction package for not-for-profit administrators introduces you to the information and services the ATO have to assist you, and contains an overview of NFP tax issues and links to other sections of the ATO website. 2. A Handover checklist for not-for-profit administrators helps when your NFP organisation changes the administrator of its tax affairs. Use this checklist to hand over your organisation s tax affairs to the new administrator. 3. A Self-governance checklist for not-for-profit organisations helps you review your organisation s status as an NFP organisation, and check how well your organisation understands its tax and super obligations. Go to: In-detail/Articles /Non-Profit-News-Service-No help-for-NFP-administrators/?tpissue ACNC REMINDER TO CHARITIES Charities will have until 31 January 2016 to lodge their 2015 Annual Information Statement, according to the Australian Charities and Not-for-profits Commission (ACNC). The statement can be lodged electronically via the ACNC Charity Portal. For charities not adopting the standard 1 July to 30 June reporting period, the statement is due within six months at the end of the reporting period. Australia Wide Taxation & Payroll Training Page 2

3 REPLACEMENT GST DETERMINATIONS Details of the new determinations are as follows: RECIPIENT CREATED TAX INVOICES 14) 2015 allows a recipient of a defined commission and/or fee based service to issue recipient created tax invoices (RCTIs) to the supplier if the recipient determines the value of the taxable supply. 15) 2015 allows a merchandiser that acquires goods on a sale or return basis to issue RCTIs to a supplier if the merchandiser determines the value of the taxable supply. 17) 2015 allows a telephone information service provider that is the recipient of information to issue RCTIs to a content provider, if the telephone information service provider determines the value of the taxable supply. 18) 2015 allows an entity that is the recipient of a taxable supply of access to premises to issue RCTIs to the provider if the recipient determines the value of the taxable supply. 19) 2015 allows a recipient of a land product to issue RCTIs to the supplier if the recipient determines the value of the taxable supply. 20) 2015 allows a scrap metal dealer, who is the recipient of a taxable supply to issue RCTIs to a supplier of scrap metal if the scrap metal dealer determines the value of the taxable supply. 21) 2015 allows a recipient of a taxable supply of mineral extraction to issue RCTIs to the supplier if the recipient determines the value of the taxable supply. 22) 2015 allows a lessee to issue RCTIs to the lessor if the lessee determines the value of the taxable supply. 23) 2015 allows recipients of aquatic products to issue RCTIs to suppliers if the recipient determines the value of the taxable supply. 24) 2015 allows a franchisee to issue RCTIs to the franchisor if the franchisee determines the value of the taxable supply. 25) 2015 allows a horse breeders incentive scheme operator to issue RCTIs to a supplier of horses for racing if the operator determines the value of the taxable supply. 26) 2015 allows a Direct Selling Association of Australia Inc (DSAA) member to issue RCTIs to a recruiting distributor if the DSAA member determines the value of the taxable supply. 27) 2015 allows a seller of reconditioned motor vehicle parts who is a recipient of a taxable supply by way of the return of a worn part to issue RCTIs to the supplier if the recipient determines the value of the taxable supply. ADJUSTMENT NOTES Extension of Time to Issue An Adjustment Note Determination (No 35) 2015 provides extra time for a Public Utility Provider who is a gas retailer to issue an adjustment note where there has not been a request from the customer for an adjustment note. Extension of Time to Issue An Adjustment Note Determination (No 36) 2015 provides extra time for a Public Utility Provider who is an electricity retailer to issue an adjustment note where there is no customer s request for an adjustment note. Extension of Time to Issue An Adjustment Note Determination (No 37) 2015 Supplies made by electricity distributors to electricity retailers provides extra time for an Electricity Distributor to issue an adjustment note where there is no customer s request for an adjustment note. MARGIN SCHEME VALUATIONS Goods and Services Tax: Margin Scheme Valuation Requirements Determination MSV (No 53) 2015 specifies requirements for making valuations for the purposes of the margin scheme under s 75-10(3)(b) of the GST Act. SECOND-HAND GOODS Goods and Services Tax: Rules for Applying Subdivision 66-B Determination (No 31) 2015 provides GST registered businesses with the choice to apply a global accounting method (pooling of credits and GST) for acquisitions of second-hand goods of a specified kind. AGENTS Goods and Services Tax: Application of Intermediary Arrangements to the Multi-Media Industry Determination (No 33) 2015 allows supplies or acquisitions made by an entity (the intermediary) on behalf of another entity (the principal) to be taken as supplies or acquisitions made in accordance with a Subdiv 153-B of the GST Act arrangement. ATTRIBUTION FOR COPYRIGHT OWNERS Goods and Services Tax: Particular Attribution Rules for supplies and acquisitions relating to the operation of a Collecting Society under the Copyright Act Determination (No 34) 2015 allows particular attribution rules for supplies and acquisitions made by copyright owners and collecting society under the Copyright Act TELECOMMUNICATION SUPPLIES A New Tax System (Goods and Services Tax) Act 1999 Telecommunication Supplies Determination (No 38) 2015 provides that even though a recipient effectively uses or enjoys the telecommunication supply in the indirect tax zone, the supply is not connected with the indirect tax zone if the supplier that makes the supply through an enterprise that is not carried on in the indirect tax zone is not registered for GST. DATE OF COMMENCEMENT All of the new determinations were registered on the register of Legislative Instruments on 30 September 2015 and commenced on 1 October Book into our seminars or purchase any of our products on-line at Australia Wide Taxation & Payroll Training Page 3

4 GST DETERMINATIONS: SIMPLIFIED ACCOUNTING METHODS The following GST determinations were registered dealing with access to the simplified method of accounting for GST by particular entities: Eligible government entities A New Tax System (Goods and Services Tax) Act 1999 Simplified GST Accounting Methods Determination (No 28) 2015 (F2015L01578). It lists the conditions to be met for a government entity to choose the simplified accounting method to calculate its net amount, and describes the alternative methods available. Eligible supermarkets and convenience stores A New Tax System (Goods and Services Tax) Act 1999 Simplified GST Accounting Method Determination (No 29) 2015 (F2015L01587). It sets out a new simplified accounting method to facilitate the simple calculation of input tax credits in respect of trading stock acquired by eligible food retailers. The relevant conditions and the method are described in the determination. Both determinations commence on 1 October 2015 and replace their predecessors that were registered in GST DETERMINATION: WAIVER OF TAX INVOICE REQUIREMENT A determination has been registered to waive the tax invoice requirement for entities who make creditable acquisitions of Direct Entry Services. Direct Entry Services mean the processing of an entity s direct credit and direct debit files by an Australian authorised deposit-taking institution. The determination sets out certain conditions that must be satisfied to enjoy the waiver. The A New Tax System (Goods and Services Tax) Act 1999 Waiver of Tax Invoice Requirement Determination (No 30) 2015 (F2015L01569) commences on 1 October It replaces legislative instrument F2005B01872 registered on 26 July GST DETERMINATION: CASH BASIS ACCOUNTING A determination has been registered which allows the representative of an incapacitated entity that previously carried on an enterprise, to account for GST on a cash basis without them having to seek a determination in writing from the Commissioner. The Goods and Services Tax: Choosing to Account on a Cash Basis Determination (No 39) 2015 representatives of incapacitated entities (F2015L01570) applies from 1 October It replaces legislative instrument F2005B02440 which was made on 29 September ATO TV Informative videos on a variety of topics can be watched commercial free on ATO TV follow this link: GST ON INWARDS PORT SERVICE CHARGES The Commissioner has issued ATO Interpretative Decision (ATO ID) ID 2015/26 on GST and inwards port service charges. The ATO ID states that the fees paid for loading, handling and associated activities charged by a non-resident shipping line under a contract for international shipping services form part of the consideration for GST-free supplies of international transport. Accordingly, such fees are GST-free under item 5 in s (1) of the A New Tax System (Goods and Services Tax) Act 1999 (GST Act). GST ON LOW-VALUE GOODS IMPORTED INTO AUSTRALIA ABOLISHED FROM JULY 1, 2017 The states and territories have unanimously agreed in principle, that the current GST exemption on items valued at less than $1,000 and imported by post should be abolished. In addition, there should be a mechanism in place to collect GST on services imported into Australia. Non-residents (overseas suppliers) will charge, collect and remit the GST for digital and physical products. As is the case in Australia, only vendors with an Australian turnover of $75,000 will need to register and charge the GST. The Commonwealth will draft legislation for the application of the new arrangements from 1 July HELP OVERSEAS RECOVERY BILL INTRODUCED The Education Legislation Amendment (Overseas Debt Recovery) Bill 2015 has been introduced into parliament. The Bill proposes to implement the 2015/16 Budget measure to extend the Higher Education Loan Programme (HELP) to debtors residing overseas. For these debtors, the Bill creates an obligation to make repayments on their HELP debts based on their total Australian and foreign-sourced income, known as their worldwide income. This will be imposed as a levy through the Student Loans (Overseas Debtors Repayment Levy) Bill Only those debtors living overseas and earning above the minimum HELP repayment thresholds will be required to make payments towards their HELP debts. Repayment rates and thresholds will mirror those applying to debtors residing in Australia. The new arrangements will apply from the later of 1 January 2016 and the day after the Bill receives assent. From this date, debtors going overseas for more than six months (183 days) will be required to register with the ATO, while those already living overseas will have until 1 July 2017 to register. Repayment obligations will commence from 1 July 2017, for income earned in the 2016/17 year. Overseas HELP debt repayments are not allowable selfeducation expenses for Australian income tax purposes. Australia Wide Taxation & Payroll Training Page 4

5 SUPERSTREAM - WHAT EMPLOYERS NEED TO DO STEP 1 - CHOOSE HOW TO PAY To use SuperStream, superannuation must be paid electronically. There are three main options for employers in relation to paying superannuation to comply with SuperStream: 1. Use Superannuation fund services - some superannuation funds will have on-line payment services that an employer can use. 2. Use a super clearing house - either a commercial or approved clearing house such as the government Small Business Superannuation Clearing House. 3. Use the payroll system - liaise with your payroll system provider to ensure it is SuperStream enabled. It is important that whichever option is chosen the employer has ensured that it is compliant with SuperStream. The obligation to ensure the superannuation is paid correctly rests with the employer. STEP 2: COLLECT INFORMATION Employers may need to collect further information from employees to use SuperStream. This is in addition to the information already obtained from the employee to pay super. Employers will need the following information from employees: fund ABN tax file number unique superannuation identifier (USI) - a USI - identifies the specific superannuation product for an employee contribution. It helps ensure contributions get to the right destination. All super funds must have at least one USI. This can be found on the employees latest superannuation fund statement. Where an employee has a self-managed super fund (SMSF), they will need to provide the employer with: fund ABN tax file number fund bank account details fund electronic service address If the employee with an SMSF does not provide the necessary information when requested an employer can request that they complete a standard choice form and return it within 28 days. Where this form is not completed within time frame the employer can make the payment into the employer default fund. Employer must ensure that this is paid by the due date. STEP 3: USE SUPERSTREAM Employers with 20 or more employees should be SuperStream ready by 31 October Employers with 19 or fewer employees should be SuperStream ready by 30 June Employers are encouraged to start with SuperStream as soon as possible to ensure that they are familiar with it by the time they are required to make payments. SUPERSTREAM - UPDATED FUND USI AND SPIN LOOK-UP TABLE The ATO publishes information about super funds to assist employers access information required to send contributions using SuperStream. This information includes unique superannuation identifiers (USI) which uniquely identifies an APRA fund and/or its superannuation products which an employee (member) contributes to. You can obtain fund USI details from your service provider, the superannuation fund or via Super Fund Lookup. The USI has replaced the superannuation product identification number (SPIN) which was previously used by some funds as a product identifier. If you currently make employer contributions to funds using a SPIN you will need to obtain the USI this SPIN corresponds to. You can find all USIs that correspond to SPINs by using the Fund SPIN and USI Lookup Table. HOW TO SEARCH THE FUND SPIN AND USI LOOKUP TABLE To use the Fund USI and SPIN Look-up Table you will need to know the SPIN (super product identifier number) The Fund USI and SPIN Look-up Table includes the following information: fund ABN fund name SPIN (super product identifier number) USI (unique superannuation identifier) Product name Contribution restrictions. By using the Fund USI and SPIN Look-up Table, employers will also be able to confirm if contribution restrictions exist for a product. If a product has a contribution restriction you are advised to contact the relevant fund before using this information. Note: The Fund USI and SPIN Look-up Table only contains information for large APRA-regulated funds that have previously used a SPIN. It does not include information for super funds that have not used a SPIN, for example, all small APRA regulated funds and self-managed super funds are not included in this table. STREAMLINED REPORTING FOR QUARTERLY LODGERS Entities lodging and paying GST quarterly may prefer (where eligible) to calculate GST quarterly and report annually. This option allows you only report total sales (G1), GST on sales (1A) and GST on purchases (1B) on their quarterly activity statements and still pay quarterly. Once a year you will need to complete the other GST labels on their Annual GST information report and lodge by the lodgment date of your income tax return. To choose this option, select Calculate GST quarterly and report annually when lodging your September 2015 activity statements. NOTE: If this option is not chosen for the September quarter it will not be available for the remaining three quarters in the financial year. Australia Wide Taxation & Payroll Training Page 5

6 REMINDER LARGE ENTITIES AND PAYG INSTALMENTS Pay As You Go (PAYG) instalment rules have recently been amended to require large entities to pay PAYG instalments monthly, rather than quarterly or annually. Affected entities (those with a turnover of more than $20 million per annum) who have not already commenced paying PAYG instalments monthly, commence on 1 January FAIRER PAID PARENTAL LEAVE BILL 2015 INTRODUCED TO PARLIAMENT Changes to the eligibility for and administration of government paid parental leave are currently being considered by parliament. The Bill introduced on June 25, 2015, proposes that from July 1, 2016 the current eligibility rules will change, reducing the government payment of parents receiving employer provided primary carer leave payments (or similar). The Bill also seeks to remove the requirement for employers to administer the government paid parental leave scheme unless the employer chooses to. The administration change is proposed to take affect from April 1, ONE DAY PAYROLL SEMINARS NEW SOUTH WALES 22 October 2015 Parramatta 23 October 2015 Sydney 29 October 2015 Bathurst 30 October 2015 Penrith 9 November 2015 Moree 10 November 2015 Tamworth 11 November 2015 Dubbo 10 February 2016 Newcastle 11 February 2016 Gosford 12 February 2016 Sydney 15 February 2016 Cronulla 16 February 2016 Wollongong 20 April 2016 Windsor 21 April 2016 Parramatta 22 April 2016 Sydney 11 May 2016 Wagga Wagga 24 June 2016 Sydney AUSTRALIAN CAPITAL TERRITORY 21 October 2015 Canberra 18 February 2016 Canberra 23 June 2016 Canberra VICTORIA 11 November 2015 Melbourne 12 November 2015 Glen Waverley 13 November 2015 Glen Waverley 13 November 2015 Mildura 19 February 2016 Melbourne 22 February 2016 Bendigo 23 February 2016 Geelong 13 May 2016 Traralgon 18 May 2016 Melbourne 19 May 2016 Glen Waverley 20 May 2016 Glen Waverley 22 June 2016 Melbourne QUEENSLAND 4 November 2015 Gold Coast 5 November 2015 Brisbane Airport 6 November 2015 Brisbane 18 November 2015 Hervey Bay 20 November 2015 Rockhampton 25 November 2015 Mackay 26 November 2015 Townsville 27 November 2015 Cairns 8 February 2016 Caloundra 9 February 2016 Toowoomba 15 February 2016 Brisbane 16 February 2016 Brisbane Airport 9 May 2016 Gold Coast 10 May 2016 Brisbane Airport 11 May 2016 Brisbane 25 May 2016 Mackay 26 May 2016 Townsville 27 May 2016 Cairns 6 June 2016 Hervey Bay 8 June 2016 Rockhampton 21 June 2016 Brisbane WESTERN AUSTRALIA 14 October 2015 Kalgoorlie 15 October 2015 Fremantle 16 October 2015 Perth (FULL) 23 October 2015 Perth 1 February 2016 Mandurah 3 February 2016 Fremantle 4 February 2016 Perth 5 February 2016 Perth 15 June 2016 Bunbury 16 June 2016 Fremantle 17 June 2016 Perth SOUTH AUSTRALIA 15 October 2015 Modbury 16 October 2015 Adelaide 2 June 2016 Glenelg 3 June 2016 Adelaide TASMANIA 4 April 2016 Launceston 5 April 2016 Hobart NORTHERN TERRITORY 12 October 2015 Alice Springs 13 October 2015 Darwin 13 April 2016 Alice Springs 15 April 2016 Darwin Australia Wide Taxation & Payroll Training Page 6

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