newspapers and periodicals used for business purposes | My Assignment Tutor

Exemptions – Division 13 Fringe Benefits Tax Assessment Act 1986Section 58H Exempt benefits–newspapers and periodicals used for business purposes58H(1) Where:(a) any of the following benefits is provided to an employee in respect of his or her employment:(i) an expense payment benefit where the recipients expenditure is in respect of a newspaper orperiodical;(ii) a property benefit where the recipients property is a newspaper or periodical;(iii) a residual benefit where the recipients benefit consists of the making available of anewspaper or periodical; and(b) the newspaper or periodical was for use by the employee for the purpose, or for purposes thatincluded the purpose, of gaining or producing salary or wages of the employee in respect of thatemployment;the benefit is an exempt benefit.58H(2) In determining for the purposes of paragraph (1)(b) whether a newspaper or periodical was for use for thepurpose of gaining or producing salary or wages, no regard shall be had to a purpose that is a merely incidentalpurpose.58M Exempt benefits—work-related medical examinations, work-related medical screening, work-relatedpreventative health care, work-related counselling, migrant language training(1) Where any of the following benefits is provided in respect of the employment of an employee:(a) an expense payment benefit where the recipients expenditure is in respect of:(i) a work-related medical examination of the employee;(ii) work-related medical screening of the employee;(iii) work-related preventative health care of the employee;(iv) work-related counselling of the employee or of an associate of the employee; or(v) migrant language training of the employee or of an associate of the employee;(b) a property benefit where the recipients property is required solely for the purposes of:(i) a work-related medical examination of the employee;(ii) work-related medical screening of the employee;(iii) work-related preventative health care of the employee;(iv) work-related counselling of the employee or of an associate of the employee; or(v) migrant language training of the employee or of an associate of the employee;(c) a residual benefit where the recipients benefit consists of the provision of:(i) a work-related medical examination of the employee;(ii) work-related medical screening of the employee;(iii) work-related preventative health care of the employee;(iv) work-related counselling of the employee or of an associate of the employee; or(v) migrant language training of the employee or of an associate of the employee;the benefit is an exempt benefit.(2) Where:(a) a car benefit, an expense payment benefit, a property benefit or a residual benefit is provided in, or inrespect of, a year of tax in respect of the employment of an employee of an employer;(b) the benefit is associated with:(i) a work-related medical examination of the employee;(ii) work-related medical screening of the employee;(iii) work-related preventative health care of the employee;(iv) work-related counselling of the employee or of an associate of the employee; or(v) migrant language training of the employee or of an associate of the employee; and(c) in the case of an expense payment benefit:(i) the benefit is not constituted by the reimbursement of the recipient, in whole or in part, inrespect of an amount of a Division 28 car expense incurred by the recipient in relation to a carowned by, or leased to, the recipient, being a reimbursement calculated by reference to thedistance travelled by the car; and(ii) documentary evidence of the recipients expenditure is obtained by the recipient and thatdocumentary evidence, or a copy, is given to the employer before the declaration date;the benefit is an exempt benefit in relation to the year of tax.SECTION 58P EXEMPT BENEFITS – MINOR BENEFITS58P(1) [Tests for exemption]Where:(a) a benefit (in this section called a minor benefit) is provided in, or in respect of, a year of tax (in this sectioncalled the current year of tax) in respect of the employment of an employee of an employer;(b) (Repealed by No 88 of 2013)(c) in the case of an expense payment benefit, a property benefit or a residual benefit – if the minor benefitwere an expense payment fringe benefit, a property fringe benefit or a residual fringe benefit, as the casemay be, in relation to the employer, the expense payment fringe benefit, the property fringe benefit or theresidual fringe benefit, as the case requires, would not be an in-house fringe benefit;(d) in the case of a tax-exempt body entertainment benefit where the provider incurs non-deductible exemptentertainment expenditure that is wholly or partly in respect of the provision of entertainment to theemployee or an associate of the employee:(i) the provision of entertainment to the employee or the associate of the employee, as the case maybe:(A) is incidental to the provision of entertainment to outsiders; and(B) neither consists of, nor is provided in connection with, the provision of a meal (other than ameal consisting of light refreshments) to the employee or the associate of the employee, asthe case may be; or(ii) the entertainment is provided to the employee or the associate of the employee, as the case maybe:(A) on eligible premises of the employer; and(B) solely as a means of recognising the special achievements of the employee in a matterrelating to the employment of the employee;(e) the notional taxable value of the minor benefit in relation to the current year of tax is less than $300; and(f) having regard to:(i) the infrequency and irregularity with which associated benefits, being benefits that are identical orsimilar to:(A) the minor benefit; or(B) benefits provided in connection with the provision of the minor benefit;have been or can reasonably be expected to be provided;(ii) the amount that is, or might reasonably be expected to be, the sum of the notional taxable valuesof the minor benefit and any associated benefits, being benefits that are identical or similar to theminor benefit, in relation to the current year of tax or any other year of tax;(iii) the amount that is, or might reasonably be expected to be, the sum of the notional taxable valuesof any other associated benefits in relation to the current year of tax or any other year of tax;(iv) the practical difficulty for the employer in determining the notional taxable values in relation tothe current year of tax of:(A) if the minor benefit is not a car benefit – the minor benefit; and(B) if there are any associated benefits that are not car benefits – those associated benefits;and(v) the circumstances surrounding the provision of the minor benefit and any associated benefitsincluding, but without limiting the generality of the foregoing:(A) whether the benefit concerned was provided to assist the employee to deal with anunexpected event; and(B) whether the benefit concerned was provided otherwise than wholly or principally by wayof a reward for services rendered, or to be rendered, by the employee;it would be concluded that it would be unreasonable to treat the minor benefit as a fringe benefit inrelation to the employer in relation to the current year of tax;the minor benefit is an exempt benefit in relation to the current year of tax.58P(2) [Associated benefit]For the purposes of this section, a benefit is an associated benefit in relation to a minor benefit if, and only if:(a) any of the following subparagraphs applies:(i) the benefit is identical or similar to the minor benefit;(ii) the benefit is provided in connection with the provision of the minor benefit;(iii) the benefit is identical or similar to a benefit provided in connection with the provision of theminor benefit;(b) the benefit and the minor benefit both relate to the same employment of a particular employee; and(c) the benefit is not an exempt benefit by virtue of a provision of this Act other than this section.SECTION 58X EXEMPT BENEFITS – PROVISION OF CERTAIN WORK RELATED ITEMS58X(1) Any of the following benefits provided by an employer to an employee of the employer in respect of theemployee’s employment is an exempt benefit:(a) an expense payment benefit where the recipients expenditure is in respect of an eligible work relateditem;(b) a property benefit where the recipients property is an eligible work related item;(c) a residual benefit where the recipients benefit consists of the making available of an eligible workrelated item.58X(2) Subject to subsection (3), each of the following is an eligible work related item if it is primarily for use inthe employee’s employment:(a) a portable electronic device;(b) an item of computer software;(c) an item of protective clothing;(d) a briefcase;(e) a tool of trade.58X(3) An item (the later item ) listed in subsection (2) is not an eligible work related item if, earlier in the FBTyear, an expense payment benefit or a property benefit of the employee has arisen in relation to another itemthat has substantially identical functions to the later item.58X(4) However, subsection (3) does not apply if:(a) the later item is a replacement for the other item; or(b) the later item is a portable electronic device, and the employer is a small business entity for:(i) the year of income starting most recently after the start of the FBT year; or(ii) the year of income ending most recently after the start of the FBT year.Example:For paragraph (a), the later item would be a replacement for the other item if the other item were lost ordestroyed, or needed replacing because of developments in technology.SECTION 58Y EXEMPT BENEFITS – MEMBERSHIP FEES AND SUBSCRIPTIONS58Y(1) [Exempt benefits]Either of the following benefits provided by an employer to an employee of the employer in respect of theemployee’s employment is an exempt benefit:(a) an expense payment benefit where the recipients expenditure is in respect of an eligible membershipor subscription;(b) a property benefit where the recipients property is an eligible membership or subscription.58Y(2) [Eligible membership or subscription]Each of the following is an eligible membership or subscription :(a) a subscription to a trade or professional journal;(b) an entitlement to use a corporate credit card;(c) an entitlement to use an airport lounge membership.SECTION 58Z EXEMPT BENEFITS – TAXI TRAVEL58Z(1) [Single trip, to or from work]Any benefit arising from taxi travel by an employee is an exempt benefit if the travel is a single taxi trip beginningor ending at the employee’s place of work.58Z(2) [Taxi travel due to sickness or injury]Any benefit arising from taxi travel by an employee is an exempt benefit if the travel:(a) is as a result of sickness of, or injury to, the employee; and(b) is the whole or a part of the journey directly between any of the following:(i) the employee’s place of work; or(ii) the employee’s place of residence; or(iii) any other place that it is necessary, or appropriate, for the employee to go as a result of thesickness or injury.

QUALITY: 100% ORIGINAL PAPER – NO PLAGIARISM – CUSTOM PAPER

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