| View previous topic :: View next topic |
| Author |
Message |
stui magpie 
Prepare for the worst, hope for the best.
Joined: 03 May 2005
Location: In flagrante delicto
|
| Post subject: Federal Budget 2015 |  |
|
Promises to be interesting.
One of the proposed changes will be to the tax concessions under the Fringe benefits act to not for profit organisations, including Public Health. Specifically apparently the meal entertainment benefit.
The budget is next week and I'll wait for the detail rather than trying to elaborate on the proposed changes now, but I want to flag up front - beware the law of unintended consequences.
I don't think anyone will have a big problem with the proposal once it's announced. I don't , I think it's a loophole that warrants closing even though I've personally benefited from it.
However I can see issues with this in the medium term in sessional and visiting medical officers deciding to abandon public health for the private sector, particularly in the areas of surgeons and anesthetists.
I hope I'm wrong, lets see.
_________________
Every dead body on Mt Everest was once a highly motivated person, so maybe just calm the **** down. |
|
|
|
 |
Morrigu 
Joined: 11 Aug 2001
|
| Post subject: | |
|
^ I could never be bothered with it - slack I know!
I'm not sure they will Stui, affiliation with a teaching hospital and research is pretty important for status and career and a requirement for some of the professional colleges.
With the exception of a few private hospitals capability for " cutting edge" technology and significant range of procedures and ability to treat a diversity of conditions is pretty limited. Public patients tend to present with more shall we say interesting diagnoseses in greater numbers.
And isn't the annual CPD allowance more substantial for those in the medical profession in public health? (this shits me to tears btw)
Still you never know - they are the entitled  
_________________
“The greatness of a nation and its moral progress can be judged by the way its animals are treated.” |
|
|
|
|
watt price tully 
Joined: 15 May 2007
|
| Post subject: Re: Federal Budget 2015 | |
|
| stui magpie wrote: | Promises to be interesting.
One of the proposed changes will be to the tax concessions under the Fringe benefits act to not for profit organisations, including Public Health. Specifically apparently the meal entertainment benefit.
The budget is next week and I'll wait for the detail rather than trying to elaborate on the proposed changes now, but I want to flag up front - beware the law of unintended consequences.
I don't think anyone will have a big problem with the proposal once it's announced. I don't , I think it's a loophole that warrants closing even though I've personally benefited from it.
However I can see issues with this in the medium term in sessional and visiting medical officers deciding to abandon public health for the private sector, particularly in the areas of surgeons and anesthetists.
I hope I'm wrong, lets see. |
I don't have a problem if they get rid of it for Doctors at all.They're too overpaid now.
The real folk who need it like cleaners etc have been privatised & can't claim it.
I'lll miss it when it's not there as I use it a fair bit.
_________________
“I even went as far as becoming a Southern Baptist until I realised they didn’t keep ‘em under long enough” Kinky Friedman |
|
|
|
|
thebaldfacts
Joined: 02 Aug 2007
|
| Post subject: | |
|
| Apparently the meal/entertainment concession is to be limited to $5K annually as oppossed to the unrestricted amount which applies now. |
|
|
|
|
David 
to wish impossible things
Joined: 27 Jul 2003
Location: the edge of the deep green sea
|
| Post subject: | |
|
This article was written back in March, but I think it's worth posting. This government really does seem to think that the public has the memory of a goldfish. Perhaps they're right.
http://www.theage.com.au/comment/job-done-tony-abbott-promises-dull-budget-but-when-did-australias-debt-become-manageable-20150319-1m2lmr.html
| Quote: | Job done: Tony Abbott promises dull budget, but when did Australia's debt become manageable?
Waleed Aly
But paradoxically, Abbott's pledge of a dull budget is wildly ambitious. This is mainly because it is asking us to believe several contradictory things at once. First, that the Coalition inherited a budget emergency. Second that its job of responding to that emergency has been relentlessly sabotaged by the opposition and other senate riff-raff. Third, that in spite of this relentless blocking, the budgetary repair job has somehow been done. Turns out the opposition weren't blocking terribly much. Or that the stuff they were blocking was unnecessary to fix the budget, anyway, in which case they weren't as irresponsible as we were being asked to believe.
About the only thing clear about this is the dogma Abbott is urging us to accept: "Under Labor the budget was completely out of control. Under us, it's manageable". Then, in case we missed it: "we have got the budget situation from out of control, to manageable".
But how? It's a strange claim to be making when you've just spent the last few weeks systematically abandoning your own least popular savings measures. The GP co-payment is gone, we think, along with the billions it was forecast to save. The government recently found unspecified millions to give back to a car industry that is already determined to leave our shores, and gave in on a pay rise for our defence force personnel it had so long resisted. Now, the government's plans for deregulation of university fees, which would allow it to pocket further billions in education costs, lie unambiguously in tatters. |
_________________
"Every time we witness an injustice and do not act, we train our character to be passive in its presence." – Julian Assange |
|
|
|
|
Dave The Man
Joined: 01 Apr 2005
Location: Someville, Victoria, Australia
|
| Post subject: | |
|
The Poor will get Poorer and the Rich will get Richer
_________________
I am Da Man |
|
|
|
|
Culprit 
Joined: 06 Feb 2003
Location: Port Melbourne
|
| Post subject: | |
|
| The big winner in this budget is Piracy. As if people are going to pay more when we are already charged more as it is. ARRRRRRRRRRRRRR |
|
|
|
|
Dave The Man
Joined: 01 Apr 2005
Location: Someville, Victoria, Australia
|
| Post subject: | |
|
| Culprit wrote: | | The big winner in this budget is Piracy. As if people are going to pay more when we are already charged more as it is. ARRRRRRRRRRRRRR |
2nd That. Make your Entertainment more Expensive then give people more reason to Pirate it
_________________
I am Da Man |
|
|
|
|
3.14159 
Joined: 12 Sep 2009
|
| Post subject: Re: Federal Budget 2015 | |
|
| stui magpie wrote: | Promises to be interesting.
One of the proposed changes will be to the tax concessions under the Fringe benefits act to not for profit organisations, including Public Health. Specifically apparently the meal entertainment benefit.
The budget is next week and I'll wait for the detail rather than trying to elaborate on the proposed changes now.
I don't think anyone will have a big problem with the proposal once it's announced. I don't , I think it's a loophole that warrants closing even though I've personally benefited from it. |
Can you elaborate on the status quo of NFP's and what fringe-benefit loop-hole/s are you talking about?
I've done a search and the only thing I found is this clear as mud extract from the time of the last government...
http://sydney.edu.au/law/parsons/ATTA/docs_pdfs/conference_papers/Not_For_Profit_Organisations_revised.pdf
| Quote: | Henry Review Recommendations relating to NFPs
The Henry Review stated that:
The system of concessions is complex and does not appropriately reflect current community values about the merit and social worth of activities.
The complexity of these concessions is exacerbated by the opaque and inconsistent regulatory arrangements for the NFP section.
Word Investment Ltd Case
The issue of charitable entities using tax concessions for engaging in
commercial activities has always been a contentious issue in Australia.
The ATO considered that if the purpose of an NFP organisation is carrying
on a commercial enterprise to generate surpluses, the purpose was not
charitable and concessions were not able to be utilized.
However, NFP‟s were able to carry out activities to make profits where:
The commercial activity was being carried out in a way that was
charitable
The commercial operations were merely incidental to the carrying
out of the charitable purpose, or
It did so by charging fees for charitable services
In recent times the courts have had the opportunity of providing some
clarification on the matter. |
|
|
|
|
|
stui magpie
Prepare for the worst, hope for the best.
Joined: 03 May 2005
Location: In flagrante delicto
|
| Post subject: Re: Federal Budget 2015 | |
|
| 3.14159 wrote: |
Can you elaborate on the status quo of NFP's and what fringe-benefit loop-hole/s are you talking about?
I've done a search and the only thing I found is this clear as mud extract from the time of the last government... |
Try this. http://www.afr.com/news/policy/budget/budget-2015-doctors-pained-by-limit-on-tax-perks-20150507-ggw4y3
Let me know if it's blocked or anything, I had a google alert on the topic and got the url from there.
Basically Gillard commissioned a review into tax concessions in the not for profit sector when she was PM. She never got a chance to do anything with it. Krudd coming out with his novated leasing thingo was an utter brain fart that no one saw coming as it wasn't one of the subjects of the review that was dealt with in much detail.
The Meal/Entertainment benefit WAS one that the TOR of the review looked at hard. I've read the original paper calling for submissions, whoever wrote it has NFI because they were getting offended by things that were way at the low end of the scale.
Doctors aren't the only ones using it, but the ones who only work a few hours per week in public health have certainly been taking advantage of it. Working in private practice and doing a couple of sessions of 5 hours each per week at a public hospital, rather than paying 50+% tax on those earnings they can put the lot toward meal and entertainment meaning they pay no tax on their public earnings.
I have no problem with the principle of the proposed changes, just flagging the potential of the law of unintended consequences.
_________________
Every dead body on Mt Everest was once a highly motivated person, so maybe just calm the **** down. |
|
|
|
|
watt price tully
Joined: 15 May 2007
|
| Post subject: | |
|
| thebaldfacts wrote: | | Apparently the meal/entertainment concession is to be limited to $5K annually as oppossed to the unrestricted amount which applies now. |
That's not quite right. There are restrictions & limits. It would be like me saying "intelligent design" is a science" 😜😉
_________________
“I even went as far as becoming a Southern Baptist until I realised they didn’t keep ‘em under long enough” Kinky Friedman |
|
|
|
|
stui magpie
Prepare for the worst, hope for the best.
Joined: 03 May 2005
Location: In flagrante delicto
|
| Post subject: | |
|
| watt price tully wrote: | | thebaldfacts wrote: | | Apparently the meal/entertainment concession is to be limited to $5K annually as oppossed to the unrestricted amount which applies now. |
That's not quite right. There are restrictions & limits. It would be like me saying "intelligent design" is a science" 😜😉 |
There are certainly restrictions on use at present for the meal entertainment benefit, not on the amount. you could put as much as you want to it at present.
_________________
Every dead body on Mt Everest was once a highly motivated person, so maybe just calm the **** down. |
|
|
|
|
3.14159
Joined: 12 Sep 2009
|
| Post subject: | |
|
| stui magpie wrote: |
There are certainly restrictions on use at present for the meal entertainment benefit, not on the amount. you could put as much as you want to it at present. |
Me I've never earned a big salary so I know nothing about things like "fringe-benefits" tax (or negative gearing on multiple investment properties, company car or obscene government super contributions to the rich)
... except that it all came out of my meager wages...
I worked all my life but now (threw no fault of my own) i'm on a pension so apparently I'm classed as a drain on the economy and need to be "incentivised" to borrow my way out of poverty and stop visiting the doctor so often!
Oh well, like they say, if your on a high income and stihl paying tax, your either stupid or not earning enough!
If this government is fair dinkum about handing down a "fair" budget it has to stop these outrageous Tax hand-outs!!!
As much $$$$ as you want on meals and entertainment?
Does that include the Grange and the stripper? |
|
|
|
|
3.14159
Joined: 12 Sep 2009
|
| Post subject: | |
|
and for what it's worth I've done volunteer work all my life.
I started with door-knocking for the good friday appeal.
For 6 years I took kids for a week long holidays in Hepburn, a break for their parents mostly).
These day I am a member of the CFA and SES (when I'm on call I have to drop what-ever I'm doing suit-up and get to the scene of the incident, under my own power and with-out even a petrol voucher).
I also do a lot of volunteering for the Clunes book Festival (I was awarded volunteer of the festival for my work organising last years Children's Book Town).
I get paid NOTHING for any of these things and what's more I have to pay for my own CFA & SES gear...
"Fringe benefits" for health care workers who fancy a change of scenery for a day or week?
Cry me river but spare me the violins! |
|
|
|
|
thebaldfacts
Joined: 02 Aug 2007
|
| Post subject: | |
|
| stui magpie wrote: | | watt price tully wrote: | | thebaldfacts wrote: | | Apparently the meal/entertainment concession is to be limited to $5K annually as oppossed to the unrestricted amount which applies now. |
That's not quite right. There are restrictions & limits. It would be like me saying "intelligent design" is a science" 😜😉 |
There are certainly restrictions on use at present for the meal entertainment benefit, not on the amount. you could put as much as you want to it at present. |
Spot on Stui. You know what you are talking about. |
|
|
|
|
|
The Rules
FAQ
Usergroups
Calendar
Search
Log in
Register
