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Category: Taxation
End of year functions and social events
As the end of 2021 approaches, University staff must be mindful of taking a reasonable and modest approach to end of year functions and social events. University Executive have endorsed the following guidance: There can only be one University funded event per staff member e.g. Faculty / Division, or School / Branch / Institute The […]
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New Procure to Pay Procedures – effective immediately
New Finance & Procurement Services Procedures The Non-Allowable Expenses Procedures provides practical examples of expenses that are considered non-allowable (or personal in nature), exceptions to these categories which are allowable, and reasonable expenditure thresholds for gifts and entertainment. Two new procedures, the Procurement Procedures and Supplier and Payment Procedures replace the previous Purchasing Procedures under […]
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Fringe Benefits Tax (FBT) on cancelled or postponed entertainment events
For cancelled or postponed events, please code any refunds back against the original Meal entertainment accounts. If no refund has been issued (i.e. non-refundable deposits or non-monetary credits), please contact taxhelpdesk@adelaide.edu.au for assessment and correction if required. A reminder to use the Entertainment Expenditure form for invoices paid via Accounts Payable.
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Contractor Engagement Process – updated assessment tool and contractor questionnaire
The Contractor Questionnaire and Contractor Assessment Tool have been updated, so please ensure you are using the latest versions. The additional information on the Questionnaire means the process to set up the Contractor in the Finance System will be more streamlined. If you have any questions in relation to engaging Contractors, please contact Finance & […]
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Staff claiming motor vehicle allowance – new process via SSO
There is a new process for staff claiming an allowance for the use of their own private motor vehicle whilst on University business. Staff need to complete a Travel Log and submit via SSO, this will then workflow to their Manager/Supervisor for approval. Further information Refer to the quick reference guide on the new process […]
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Decrease to FBT Rate – 1 April 2017
Due to legislation changes, a number of Fringe Benefits Tax (“FBT”) rates have decreased with effect from 1 April 2017. Salary packaging arrangements will also need to be re-evaluated to have effect from 1 April 2017 and possibly adjusted to account for the change in the salary packaging gross up rates. The rate change will […]
Increase to FBT Rate – 1 April 2015
Due to legislation changes, a number of Fringe Benefits Tax (“FBT”) rates will increase with effect from 1 April 2015. The information below summarises the rate increases for the 2016 FBT year (1 April 2015 – 31 March 2016). Rate Current FBT Rate Revised FBT Rate FBT Rate 47% 49% Type 1 Gross Up Rate 2.0802 2.1463 Type […]
Staff changes to Taxation Support
Financial Services welcomes back Henrietta Shepherd (who has been away for 12 months) to her position of Senior Taxation Accountant within the Financial Accounting team. Henrietta can be contacted on extension x35727. In addition, we are pleased to advise Linda Chapman will be continuing with Financial Services in the position of Senior Taxation and Management […]
FBT Presentations
During November and December 2014, the Senior Taxation Accountant visited each Faculty/Division to do a presentation on Fringe Benefits Tax. The presentation, which can be found on the Taxation webpage, provides a high level overview of Fringe Benefits Tax (“FBT”) legislation and the main fringe benefits provided by the University. If you have any questions, please […]
Process for Claiming Car Allowance for Use of Private Motor Vehicles – Non Staff (including Students)
As previously advised, there is a new process for claiming a Car Allowance to compensate for the use of private motor vehicles whilst on University business. Effective Saturday 14th of June 2014, all payments to Staff will be processed through the Human Resources branch. A separate form has been developed specifically for non staff (including […]
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