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Human Resources

Managing Employee Expenses, Entertainment & Allowances Seminars – coming soon to Brisbane, Melbourne & Sydney

We delivered our first series of seminars this week!

Through the complexity I think we were able to provide some clarity and guidance.

Must attend training for accounts payable teams, finance managers and company accountants.

Register online: http://www.cvent.com/d/bcqz6n

 



The Living-Away-From-Home (LAFH) Allowances and Benefits amendments were passed in the House of Representatives yesterday afternoon.

The final Bill included Government amendments (in effect, schedule 1 as originally introduced on 28 June, was omitted and substitiuted with an amended schedule 1).

The amended Bill results in LAFH allowances being taxed entirely within the FBT system.

The start date for the measure remains the same, and the changes generally take effect from 1 October 2012.

Below is a link to the Assistant Treasurer’s press release relating to passage of the measure: http://ministers.treasury.gov.au/DisplayDocs.aspx?doc=pressreleases/2012/088.htm&pageID=003&min=djba&Year=&DocType=

The Bill and EM can be found via the following link:
http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/Bills_Search_Results/Result?bId=r4865

FBT Essentials Update: LAFHA changes + Salary Packaging Update – early bird pricing $250 + GST. Register by 31 August

Training to be provided, download registration form here:

http://www.fbtseminars.com.au/pdf/fbt_essentials_update_2012.pdf

Our 3 hour FBT Essentials Update seminar will cover what you need to know about the important LAFHA changes and the Relocation rules. We will also cover common FBT return mistakes, recent and planned ATO Audit activity and an update on the latest Salary Packaging ideas and trends.



New Zealand temporary visa holder – TD 2012/18

The ATO have issued Taxation Determination TD 2012/18 entitled “Income tax: does a New Zealand citizen who was present in Australia as the holder of a temporary visa granted under section 32 of the Migration Act 1958 (a Special Category Visa) that ceased to be in effect when they departed Australia, still hold a temporary visa for the purposes of paragraph (a) in the ‘temporary resident’ definition in s 995-1(1) of the Income Tax Assessment Act 1997?”

If a New Zealand citizen who was present in Australia as the holder of a Special Category Visa departs Australia, they will still ‘hold a temporary visa’ for the purposes of paragraph (a) in the ‘temporary resident’ definition in subsection 995-1(1) of the Income Tax Assessment Act 1997 (ITAA 1997).

Although a Special Category Visa is a visa to remain in, but not re-enter, Australia, and therefore ceases to be in effect if the holder leaves Australia, a New Zealand citizen with a New Zealand passport has an ongoing right to re-enter Australia on another Special Category Visa. As such, the New Zealand citizen will be treated as holding a temporary visa granted under the Migration Act 1958 (the Migration Act) for the purposes of paragraph (a) of the ‘temporary resident’ definition in subsection 995-1(1) of the ITAA 1997, provided that they continue to be entitled to re-enter Australia on presentation of their New Zealand passport.