FBT Solutions

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Payroll Tax

Learn the compelling reasons for Salary Packaging at our half day Salary Packaging seminars in May & June. Understand the significant tax and other savings for both the employee and their employer, how to structure your salary packaging to be fully tax compliant with the correct policy and documentation requirements.

When and where are the seminars:

Sydney – Wednesday 29 May, register here:  http://tinyurl.com/ahzgehb
Melbourne – Wednesday 12 June, register here:  http://tinyurl.com/ahzgehb
Brisbane – Wednesday 19 June, register here:  http://tinyurl.com/ahzgehb

What we’ll cover:

• The new ATO view when salary packaging a laptop / Ipad / smartphone

• Salary packaging the family car to save thousands of dollars with no additional outlay

• Accessing the concessional FBT car parking rules for those working part-time or only requiring parking a few days a week, without being locked in to an annual lease

• Strategies for cars that work

• The new ATO requirements for car logbooks

• Understanding how to save thousands of dollars when relocating

• Maximising the concession and exemptions, whilst being fully compliant

• Adding up all the FBT, Payroll Tax, Work Cover and Superannuation savings

• Driving your policies to maximise employer & employee benefits

What you’ll get:
• Free access to our salary packaging calculator tool

• Our detailed salary packaging workbook with examples

• Free follow up query service

• A full set of seminar notes

What’s your investment:
• $330 including GST for new attendees

• Only $275 including GST for past attendees (and their colleagues)

• A CPD certificate will be provided

Who should attend?
If you’re responsible for salary packaging in your organisation, or just want to find out more about how it all works, then this seminar is a must attend.

Whether you work in a non profit organisation, government or corporate entity (big or small), salary packaging will benefit your employees and your employer.

Attendees include Payroll Managers and Staff, HR Managers and their teams, Finance personnel (accountants and AP staff) and Tax personnel.

Register here:  http://tinyurl.com/ahzgehb


What is the total cost of a $1,100 taxable fringe benefit?

1.  FBT – $1,056
2.  Payroll Tax – $113 (average)
3.  Workers Compensation – $103 (estimate)
4.  Benefit acquisition (less GST) – $1,000

Total cost = $2,272 = no good for salary packaging!


Planning is well under way for our 2013 FBT Return Seminars. Register here:  http://www.fbtsolutions.com.au/pdf/fbt_return2013_seminar.pdf

The 2013 FBT returns will be a big challenge for those providing LAFHA. There will be many transitional issues to analyse and relocation costs to understand.

Day Date Time Topic City Early Bird Price – Register by Friday 25 January 2013 After 25 January 2013
Thursday 14-Mar-13 8.45am – 4.45pm Preparing Your 2013 FBT Return Melbourne $550 $660
Wednesday 20-Mar-13 8.45am – 4.45pm Preparing Your 2013 FBT Return Sydney $550 $660
Wednesday 27-Mar-13 8.45am – 4.45pm Preparing Your 2013 FBT Return Brisbane $550 $660

Register here: http://www.fbtsolutions.com.au/pdf/fbt_return2013_seminar.pdf

Further details:paul.mather@fbtsolutions.com.au


ATO focus on contractors

Contractors focus –

•  ATO conducted 1,100 audits on businesses that were suspected to be incorrectly employees as contractors
•  Data on payments made to 41,000 contractors, 18,000 were assessed as individuals (ie employee’s)
•  Overall 48% employee’s incorrectly categorised as contractors
•  Significant exposure to FBT (+ Payroll Tax + Super + Workers Comp)
•  ATO have online employee / contractor decision tool

 

 


With businesses beginning the LAFHA transition process, the Office of State Revenues will be looking forward to some increased revenue.

Many LAFHA amounts will convert to Salary & Wages at 1 October 2012, and therefore PRT will apply.

Reimbursed LAFH benefits in most situations will become taxable fringe benefits, and PRT will apply to the grossed up amount – the PRT impact not be fully felt until June 2013 – but employers will need to be aware of the additional liability.

The additional liability will vary from State to State and LAFHA to LAFHA but as an example, an annual LAFHA of $60,000 will attract PRT of $3,270. That amount will balloon to over $6,000 if the LAFHA is grossed up for PAYG purposes. These additional PRT liabilities are significant.

Liabilities on Workers Compensation insurance will also increase.