News

Summary

  • 2010/2011 Personal income tax rates
  • Core fringe benefits tax data for the year ended 31 March 2011
  • FBT reporting exemption on Pooled or Shared Cars
  • Employee Contributions to reduce the impact of FBT

Employee Contributions to reduce the impact of FBT
July 13th, 2010

The ATO reminds employers that employee contributions to reduce the impact of taxable benefits needs to be made from employee post tax income, and is subject to GST input tax in the hands of GST registered employers. more…


FBT reporting exemption on Pooled or Shared Cars
July 13th, 2010

Pooled or shared cars from the FBT reporting requirements. A pooled or shared car is a car that is provided by an employer for the private use of two or more employees. more…


Core fringe benefits tax data for the year ended 31 March 2011
July 13th, 2010

The Henry Report on a New Tax System is low key on FBT matters and no changes are envisaged to salary packaging rules in the foreseeable future.

Salary packaged laptops, printers, and tools of trade must be primarily used for employment purposes to be tax exempt. Primarily is likely to be self evident from one’s job role. more…


2009/10 & 2010/11 Personal income tax rates
July 13th, 2010

Personal tax rates for the year ended 30 June 2010 are: <$6,000 – 0%; $6,001 to $35,000 – 15%; $35,001 to $80,000 – 30%; $80,001 to $180,000 – 38%; and over $180,000 – 45%. The medicare levy is an additional 1.5% more…