2021/22 Training Topics

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Taxation and Payroll Training

Fringe Benefits Tax Training

Taxation & Payroll Training

THE PAY AS YOU GO (PAYG) WITHHOLDING SYSTEM
1. Employee commencement
  1. Registering for PAYG Withholding
  2. Employee or Contractor?
  3. Employee or Contractor? – Recent important decision in case law
  4. Non-compliant payments to employees and contractors not deductible
2. Tax File Number (TFN) Declaration
  1. Who should complete a TFN declaration?
  2. Section A
  3. Section B
  4. Obtaining and submitting a TFN Declaration
3. The Withholding Declaration (NAT 3093)
  1. When is an employee required to complete a Withholding Declaration
4. Applying to the ATO to reduce tax withholding – PAYG Withholding Variation
  1. Processing time
  2. How to lodge
  3. Start date of variation
  4. Finishing date of variation
5. Paying Salary and Wages
  1. At which time is salary and wage income taxable?
6. General Rates of Income Tax (Incorporating Medicare Levy)
  1. Tax rates and thresholds – Australian resident for tax purposes
  2. Medicare Levy
7. Foreign Employees/Non-residents
  1. Penalties for employing an illegal worker
  2. Individual tax residency rules proposed to change
  3. Tax rates of foreign employees working in Australia
  4. Treatment of Expats – Inbound and Outbound
8. Issues for specific employees
  1. Study and training loan repayment thresholds and rates 2021/22
  2. Performing Artists
  3. Actors, Variety Artists and other Entertainers
  4. Volunteers and Respite Workers Paid by Non-profit Organisations
9. Tax Treatment of Specific Payments
  1. Additional withholding when financial year contains extra pay day
  2. Taxing Annual Leave & Long Service Leave (for continuing employment)
  3. Taxing Bonuses, Commissions & Back Payments (Marginal Rate Calculation)
  4. Grossing up a net amount
  5. Making Adjustments for Repayment of Overpaid Amounts
  6. Withholding Tax from Allowances
  7. Car expense rates for motor vehicle allowance paid on a cents per kilometre basis
  8. Daily Travel Allowance 2021/22 – Ruling TD 2021/6
  9. Treatment of reimbursements
  10. Treatment of Workplace Giving amounts
  11. Honorariums
  12. Taxation of Return to Work Payments
  13. The Paid Parental Leave (PPL) Scheme
  14. Treatment of Child Support Deductions
  15. Treatment of pay with purchased leave
10. Treatment of payments made under a Labour Hire arrangement
  1. Withholding under a Labour Hire arrangement:
  2. GST Implications of a Labour Hire arrangement
  3. Court will look at tripartite arrangements
11. Treatment of payments made under a Voluntary Agreement
  1. Establishing a Voluntary Agreement
  2. Rates of withholding under a Voluntary Agreement
  3. GST Implications of a Voluntary Agreement
12. Treatment of payments made to a supplier who does not quote an ABN
  1. Rate of withholding where no ABN is quoted
  2. Statement by supplier
13. Which withholding takes priority?
14. Treatment of payments made for a Non-Cash Benefit (that are not FBT items)
15. Subscribe to the ATO
SINGLE TOUCH PAYROLL (STP) & OTHER REPORTING REQUIREMENTS
1. Interacting with the ATO online
  1. Accessing ATO online services
2. Options for accessing ATO services online
  1. Online services for business
  2. Standard Business Reporting (SBR)
  3. Individuals and sole traders use myGov to lodge Activity Statements online
3. Single touch payroll (STP) reporting (and see 2.4 STP Phase 2)
  1. How payments are reported through STP
  2. Changes to small business concessions for STP reporting from 1 July 2021
  3. exemptions
  4. Deferrals
  5. STP Finalisation
  6. Changing payroll soltuions during a financial year
  7. Trouble shooting STP problems
4. Expanding Single Touch Payroll (Phase 2)
  1. Flexible approach to transition
  2. What isn’t changing
  3. What is changing
  4. Employment conditions
  5. Disaggregation of gross
  6. Other changes for STP Phase 2
5. Income Statements
  1. Items on the Income Statement
6. Supporting apprentices and trainees
  1. Eligibility
  2. How much is the subsidy
  3. Other information
7. JobMaker Hiring Credit
  1. Register for JobMaker Hiring Credit
  2. Employer Eligibility
  3. Employee Eligibility
  4. The Administrator Process for JobMaker
  5. Tax Consequences
  6. Northern Territory – Additional Hiring Credit amount
  7. Summary of other COVID-19 Support
8. Payment Summaries
  1. STP negates the requirement to issue payments summaries in most cases
  2. The Business and Personal Services Income Payment Summary
  3. The Withholding where ABN not Quoted Payment Summary
9. Reporting PAYG Withholding on the BAS/IAS
  1. Time Frame for Payments of PAYG withholding to the ATO
  2. Small and Medium Withholders
  3. Large Withholders
  4. Transferring amounts to the PAYG withheld section on the BAS/IAS
  5. Penalties for Late Lodgement, Late Payment and Non-payment
10. Modernizing Business Registers and Director Identification Numbers
11. Taxable Payments Reporting System
  1. Affected Industries
  2. How does it work
  3. Who Needs to Report?
  4. Businesses not required to report
  5. Payments that need to be reported
  6. Payments that are not reportable
  7. The Taxable Payments Annual Report
  8. Specific information for Effected industries and services
12. Taxable Payments for Reporting of Government Grants & Payments
13. Workplace Gender Equality Reporting
  1. Relevant employers
  2. Reporting
14. Payment Times Reporting Schemes
15. Notifiable Breaches Scheme – Office of the Australian Information Commissioner
16. Treatment of Employee Share Schemes (ESS)
  1. Reporting to employees – ESS Statement
  2. ESS in a Start-up Company from 1 July 2015
  3. Reporting to the ATO – ESS Annual Report
  4. Employee Share Schemes Calculator
  5. Types of schemes
  6. Tax-deferred schemes taxing point
17. Labour Hire – Reporting and licensing requirements
  1. States that have already adopted a Labour Hire Licence
  2. States yet to adopt a Labour Hire Licence
THE NATIONAL INDUSTRIAL RELATIONS SYSTEM (FAIR WORK)
1. Coverage
  1. COVID-19 – Corona Virus – Ramification for Employers and Employees (industrial Relations)
  2. quarantine & self-isolation: pay & leave options
2. Modern Awards
  1. Modern Awards do not apply to employees earning over the high-income threshold
  2. List of Modern Awards
  3. Changes to awards
  4. Pay guides to modern awards
  5. What is contained in a Modern Award
  6. Annualised Salary Clauses
  7. Casual conversion clause in most awards
  8. Pay and Condition Calculators and Tools (PACT)
  9. Award Finder
3. Status of Agreements and Contracts
  1. Enterprise Agreements
  2. Common Law Contracts
4. National Minimum Wage (NMW)
5. National Employment Standards (NES)
6. Maximum Weekly Hours
7. Requests for Flexible Working Arrangements
  1. Eligibility for flexible working arrangements
8. Parental Leave and Related Entitlements
  1. Eligibility
  2. Effect of the Government Paid Parental Leave Scheme
  3. Transfer to a safe job
  4. Taking Parental Leave
  5. Unpaid parental leave’s impact on accruals, service and public holidays
  6. Returning to work
  7. Ending employment during parental leave
9. Annual Leave
  1. Entitlement to annual leave
  2. Accrual of annual leave
  3. Taking annual leave
  4. Payment for annual leave
10. Personal Leave — Includes Sick Leave, Carer’s Leave, and Compassionate Leave
  1. Entitlement and accrual of paid personal/carer’s leave
  2. Taking personal/carer’s leave
  3. Long periods of sick leave
  4. Unpaid carer’s leave
  5. Victoria introduces pilot program – Sick/carers leave for casual employees
  6. Compassionate leave
  7. Use of personal leave in natural disaster or emergency
11. Family and domestic violence leave
12. Community Service Leave
  1. Voluntary Emergency Management Activity
  2. Jury Duty
  3. Notice and evidence for community service leave
13. Long Service Leave
  Where the ‘ordinary time rate of pay’ is not fixed, it will be determined by calculating the greatest of:
  1. Employee serves in more than one State
  2. Long service leave and awards prior to 1 January 2010
  3. Long Service Leave and transfer of business
  4. Portable Long Service Leave Schemes
  5. What is ‘domestic or other pressing necessity’
14. Public Holidays 2020/21 Financial year
  1. Local public holidays
  2. Rostering and payment for Public Holidays
  3. Public holidays and leave entitlements
  4. Requesting and refusing to work on public holidays
  5. Public holiday interstate
15. Fair Work Information Statement
16. Statutory Bodies
  1. Fair Work Commission
  2. Fair Work Ombudsman (FWO)
17. Worker Records
  1. What records must employers keep?
  2. Pay Statements
  3. Contravention of Record-Keeping and Pay Slip Obligations
  4. How long should records be kept
18. Other Fair Work issues
  1. Changes to casual employment – industrial relations reforms
  2. Calculating casual penalty rates
  3. What deductions may be made from an employee’s pay?
  4. COVID-19 vaccinations & the workplace
  5. State Wage theft laws
  6. Holiday Shutdowns
  7. Workplace laws for franchisors and holding companies
  8. Transfer of business – When businesses change owners
  9. Unpaid leave
  10. Unpaid work
  11. Wage subsidies and incentive payments for employers – “Restart Subsidy” and “Kickstart payments”
  12. Workplace Advice Service
  13. Reversal of onus of proof
  14. Contact Fair Work Commission
  15. Contact the Fair Work Ombudsman
  16. Fair Work downloadable and interactive templates and guides
WHEN EMPLOYMENT ENDS
1. Notice of Termination and Redundancy Pay
  1. Notice of termination or
    payment in lieu of
    notice
  2. Dismissal and notice
  3. Resignation and notice
  4. Leave during notice period (applies to resignation and dismissal & redundancy)
  5. Redundancy Pay
2. Unfair dismissal
  1. What is an unfair dismissal?
  2. Unlawful Dismissal
  3. The Fair Dismissal Code for Small Business
  4. Small Business Fair Dismissal Code Checklist
3. Ending employment – other issues
  1. Is leave loading payable on termination?
  2. When does the final pay have to be made to the employee?
  3. Terminating a person on personal (sick) leave or workers compensation
  4. Managing performance-based termination
  5. Termination and serious misconduct
4. Reporting payments through STP when an employee leaves employment
5. Annual Leave on termination
  1. Amounts included in annual leave paid on termination (including redundancy and resignation)
  2. Tax treatment of annual leave on termination
  3. Treatment of annual leave on resignation, retirement or performance-based dismissal
  4. Annual Leave for Genuine Redundancy, Invalidity and ATO Approved Early Retirement
6. Taxing Long Service Leave on termination
  1. Treatment of long service leave when an employee resigns, retires or is dismissed as a result of performance.
  2. Long Service Leave for Genuine Redundancy, Invalidity and ATO Approved Early Retirement
  3. No additional withholding for higher education loans applied to the payment of lump sums on termination
7. Genuine Redundancy and tax-free amounts
  1. Overview
  2. Tax treatment of amounts paid under a genuine redundancy (TR 2009/2)
  3. When is a termination a Genuine Redundancy and therefore tax-free up to a limit?
  4. Other important points about genuine redundancy
  5. Redundancy examples
8. Approved early retirement schemes
9. Employment Termination Payments (ETPS)
  1. PAYG Payment Summary – Employment Termination Payment no longer relevant – see STP and ETPs
  2. ETPs and Single Touch Payroll (STP)
10. Treatment of an ETP
  1. Calculating taxable and tax-free components for employees who commence employment before 1 July 1983
  2. Tax to be withheld from the taxable component of an ETP
  3. The whole of income cap
  4. Whole of income cap examples
11. ETP examples
12. Other issues – taxing termination pay
13. Invalidity Payments
  1. Treatment of annual leave and long service leave on invalidity
  2. Invalidity ETPs
14. Lump Sum Payments on Death of an Employee
  1. Other important information in relation to payments after death of an employee
  2. Employment Separation Certificates
THE SUPERANNUATION GUARANTEE
1. Tax File Number & Superannuation Funds
2. Minimum Level of Superannuation Guarantee Contributions
  1. Which rate will apply?
  2. SG percentage increase– impact on salaried/packaged employees
3. Deadlines for Superannuation Contributions
  1. Superannuation Guarantee (Employer Contributions) Deadlines
  2. Salary sacrifice employer contributions (Employer Contributions)
  3. Voluntary employee super contributions (contributions withheld from net salary – (Employee Contributions)
  4. Paying superannuation in advance
  5. End of year allocations of superannuation contributions
  6. The Superannuation Guarantee Charge – Penalty for Overdue Superannuation Guarantee Contributions
4. Allocating and paying contributions
  1. Allocating contributions through STP
  2. Choice of fund
  3. Employers are required to make contributions using SuperStream
5. Superannuation Guarantee liability for Specific Workers / Payments
  1. Payments for which Superannuation does not have to be paid
  2. Salaried employees – Determining the superannuation guarantee portion of an all-inclusive amount
  3. Treatment of Certain Workers
  4. What payroll is counted for Superannuation guarantee purposes (Ordinary Time Earnings OTE at stated in SGR 2009/2)
  5. SG and Leave loading
6. Superannuation Caps
  1. Maximum Quarterly Contribution Base
  2. Concessional contributions cap (for SG & salary sacrifice)
  3. Tax rates applied to superannuation (withheld by the superannuation fund not the employer) within and in excess of the caps
7. Superannuation & Salary Sacrifice
  1. Salary sacrificed superannuation contributions are employer contributions
  2. How does salary sacrifice work?
  3. A salary sacrifice arrangement must be ‘effective’. How is this achieved?
  4. What salary is the superannuation guarantee based on when an employee salary sacrifices to a superannuation fund?
  5. Superannuation contributions made under an ineffective salary sacrifice agreement are subject to FBT
  6. The effect of Salary Sacrifice on other entitlements
  7. How much can be salary sacrificed?
  8. Employees can salary sacrifice to save for first home
  9. Employees can claim deductions for personal super contributions – The equivalent of salary sacrificing to super
8. Reportable Employer Superannuation Contributions (RESC)
  1. Reportable superannuation contributions
  2. Superannuation contributions which are not reportable
  3. Other RESC Factors
9. Other Superannuation Information
  1. Record-keeping requirements for superannuation
  2. Non-residents can access their superannuation early
  3. Splitting of superannuation contributions
  4. Tax offset for super contributions on behalf of spouse
  5. Superannuation co-contribution for low-income earners
  6. Super guarantee employer obligations course
  7. Status of Superannuation Fund Expenses Paid by the Employer
FRINGE BENEFITS TAX (FBT)
1. Liability to FBT
  1. Fringe Benefits Tax Year & Assessment of Liability
  2. Calculating FBT in Summary
  3. What is the impact of tax bracket changes on the provision of fringe benefits?
  4. Impact of COVID-19 on FBT liability in certain situations
2. Classifying Fringe Benefits, Grossing-Up Fringe Benefits & Calculating of the FBT Payable
  1. Gross-up rates for 2021/22
  2. Summary of current FBT year
  3. GST inclusive value is used
  4. Employee cash/expense contribution to fringe benefit
3. Record Keeping
  1. Record Keeping Exemption for Small Business (turnover less than $10milllion)
  2. Declarations
4. Specific Treatment of Cars & Related Fringe Benefits
  1. COVID-19 and car fringe benefits
  2. Determining the taxable value of a motor vehicle
  3. The Statutory Formula Method
  4. The Operating Cost Method
  5. Simplified approach to car fringe benefits for employers with fleet cars
  6. Novated Leases
  7. Salary sacrificing a motor vehicle – The Options
  8. FBT Exempt Motor Vehicles
  9. Road Tolls
  10. Car Parking
  11. Expense payments
  12. Other benefits (“residual” benefits)
  13. Meals & Board
  14. Housing
  15. Property and Goods
  16. Airline Transport
  17. Loans/Debt Waiver
  18. Entertainment Expenses
  19. Travel expenses
  20. Benefits provided by a Third-party
5. Living-away-from-home allowance (LAFHA)
  1. LAFHA eligibility
  2. LAFHA Benefits an eligible employee can receive
  3. Substantiation of expenses
  4. LAFHA is an exempt benefit only for the first 12 months
  5. Fly-in fly-out/drive-in drive-out workers complete declaration
6. Exemptions, Reductions & Concessions
  1. Benefits to which FBT does not apply
  2. Minor benefits
  3. Remote Area housing
  4. Concessions for employees posted overseas
  5. Relocation Exemptions
  6. Work-related items
7. ‘In-house’ fringe benefits
  1. Long service awards
  2. Certain payments to employee entitlement funds
  3. Taxi travel/ ride share exemption
  4. Costs for retraining/reskilling redundant employees
  5. Other exemptions
  6. Reducing liability by applying the ‘Otherwise Deductible’ Rule:
  7. Employees’ Clothing/Uniforms
8. Salary Sacrifice
  1. Important notes about salary sacrifice
  2. Salary Sacrifice Scenarios
9. Employers who are FBT exempt & rebatable employers
  1. Organisations entitled to full FBT exemption
  2. Organisations entitled to a FBT exemption up to the grossed-up capping value of $30,000
  3. Organisations entitled to a FBT exemption up to the grossed-up capping value of $17,000
  4. Employers who are entitled to an FBT rebate of up to $30,000 grossed-up
  5. Benefits excluded (wholly or partly) from FBT capping measures
10. Reportable Fringe Benefits
  1. Recordkeeping for reportable fringe benefits
  2. Treatment of reportable fringe benefits by exempt and rebatable employers
  3. Fringe benefits exempt from reporting requirement
  4. No reporting required for pooled or shared vehicles
  5. Which employees will have a reportable fringe benefit amount?
  6. Calculating the Reportable Fringe Benefit Amount
  7. Use GST inclusive value but only gross-up at the lower rate
  8. Where is the Reportable Fringe Benefit Amount (RFBA) reported?
  9. Reportable Fringe Benefits – The Effect on Employees
11. The Fringe Benefits Tax Return
  1. Lodgement
  2. Completing the Fringe Benefits Tax Return
  3. Paying FBT
  4. Fringe Benefits Tax and the BAS
WORKERS’ COMPENSATION
1. COVID 19 (Corona Virus) and Workcover
  1. Entitlement to Workcover
  2. Websites for specific information
2. Workcover National Harmonisation Plan
3. Cross Border Arrangements
  1. The ‘State of Connection’
  2. Supporting documentation
  3. Temporary work interstate for the same employer
  4. Practical Examples
4. Defining Workers, Employees, and Contractors
  1. New South Wales
  2. Victoria
  3. Queensland
  4. South Australia
  5. Northern Territory
  6. Australian Capital Territory
  7. Tasmania
  8. Western Australia
5. What remuneration is declared for premium purposes?
6. Other Issues
  1. Payments to Entities other than individuals
  2. Impact of the GST
  3. Accrual of leave entitlements for workers’ compensation recipients
PAYROLL TAX
1. Exemptions and Rebates
  1. General Exemptions for all States
  2. New South Wales
  3. Victoria
  4. Tasmania
  5. South Australia
  6. Queensland
  7. Northern Territory
  8. Western Australia
  9. Australian Capital Territory
  10. Registration Requirements
  11. Cancellation of registration
2. Where is Payroll Tax Payable
  1. Where services are performed entirely in one jurisdiction
  2. Where services are performed in more than one Australian jurisdiction and/or partly outside all Australian jurisdictions
  3. Employment in another country
  4. Services performed offshore
  5. Wages paid in a foreign currency
3. Records
4. Payroll Tax & GST
  1. GST component of taxable wages is excluded for payroll tax purposes
5. Grouping of Employers
  1. Common employees
  2. Controlling interest
  3. Commonly controlled businesses
  4. Related under corporations law
6. Monthly Returns and Annual Adjustments
7. Thresholds & Rates
  1. Reductions and thresholds (Wages exempt from payroll tax)
  2. Formulas used to calculate exemption threshold and payroll tax payable
8. Payments to Contractors – All jurisdictions except WA
  1. Relevant/Service contracts are taxable
  2. Exclusions/Exemptions
  3. South Australia – Relevant Contracts Decision Tool
9. Payments to Contractors – Western Australia
10. What are Wages for payroll tax purposes
  1. Payments assessable for payroll tax?
  2. Notes:
GOODS & SERVICES TAX (GST)
1. The GST Base
2. Registration
  1. Who is required to register?
  2. What is Annual Turnover (for GST purposes)?
  3. When to Register
  4. How to register for GST
  5. Consequences for entities who fail to register when required
  6. Should entities with a low turnover choose to register?
  7. Taxi drivers must register regardless of turnover
  8. Special rule for Charities/Non-Profit Organisations
  9. Registration for overseas businesses
  10. Cancelling GST registration
3. How does the GST work?
  1. When can you claim GST credits?
  2. Time limits for claiming GST credits
  3. When can’t businesses claim GST credits?
  4. GST credits and income tax deductions
  5. Special rules for claiming GST Credits
  6. Acquisitions through agents for non-residents
  7. GST refunds as a result of capital items purchased
  8. GST refunds as a result of an error on previous BAS
4. Attribution Rules
  1. Accounting for GST on a cash basis
  2. Accounting for GST on a non-cash basis
  3. Attribution rule for lay-by sales
  4. Attribution rule for security deposits
  5. Attribution rule for sale of land under a standard land contract
  6. Attribution rule for gift vouchers
  7. Other special attribution rules
5. Tax Invoices
  1. What is a valid tax invoice?
  2. What if a document does not contain all of the required information?
  3. What if you claimed a GST credit without having a valid tax invoice?
  4. How does the ATO deal with missing or invalid tax invoices?
  5. Situations where a tax invoice may not be required
6. Making Adjustments
  1. What are adjustments?
  2. When do you make an adjustment?
  3. Information requirements on adjustment notes
  4. Adjustments can be reconciled on the BAS in one of two ways
7. Supplies which are GST-free
  1. More information
8. Supplies which are input taxed
  1. Financial supplies
  2. Residential Premises
  3. Other Input Taxed Activities
9. Simplified Accounting
  1. Simplified accounting methods for food retailers
10. GST cross-border transactions – Imports
  1. How to determine whether the sale or purchase of a product or service is connected with Australia
  2. Australian businesses
  3. Non-resident businesses
  4. Imported digital products and services (the ‘Netflix’ tax)
  5. Change to GST treatment of online accommodation bookings
  6. Imports which are not taxable for GST purposes
11. Other Issues
  1. GST and the National Disability Insurance Scheme (NDIS)
  2. Treatment of Goods on Consignment
  3. Pricing Requirements
  4. Lease Arrangements
  5. Hire Purchase
  6. Motor Vehicles
  7. Status of Government Fees
  8. Gambling
  9. Second-hand Goods
  10. GST Groups
  11. Prizes
  12. Wine equalisation tax
  13. Mutual Bodies
  14. Accounting for GST for Income Tax Purposes
  15. Australian Business Number
  16. Treatment of Property
  17. Insurance
  18. Reimbursements & Disbursements
  19. Issues for Charitable and Non-profit Organisations
REPORTING GST ON THE BUSINESS ACTIVITY STATEMENT (BAS)
1. Instalment Activity Statement (IAS)
2. Business Activity Statement (BAS)
  1. Due Dates
  2. Lodgement and Payment
  3. Methods of lodging
  4. Concluding Tax Periods
  5. Individuals must be registered to provide BAS Services
  6. What are BAS services?
  7. BAS and Tax Agents need to complete Annual Declaration with the Tax Practitioners Board (TPB)
3. Accounting for GST
  1. Accounts method
  2. Interactive GST Calculation Sheet (to be completed online)
4. BAS Reporting Options for GST (Not including Annual Reporting)
  1. Option 1 – Full reporting method – Pay GST Quarterly & Report Quarterly (Monthly for large payers)
  2. Option 2 – Simpler BAS reporting method — Pay and report GST Monthly, Quarterly or Annually
  3. Option 3 – GST instalments method – Pay ATO GST instalment Quarterly & Report Annually
5. Other BAS Issues
  1. Nothing to Report or not Trading
  2. Correcting GST Errors on the BAS
  3. BAS information for GST groups
  4. BAS information for GST Branches
  5. The Fuel Tax Credit Scheme
  6. GST streamlined assurance review for large multinationals and public companies
6. Reporting PAYG Instalments on the BAS/IAS
  1. What are PAYG instalments?
  2. Reporting Options
  3. Some taxpayers excluded from paying PAYG instalments
  4. Voluntary entry into PAYG instalments
  5. PAYG installments calculator

2022 FRINGE BENEFITS TAX TRAINING

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