While much discussion on recent tax reform legislation has centered on the impact on business, many of the recent reforms will impact directly on employees, employers & contractors. The legislation covering the interaction between the GST & FBT has major effects on salary packaging in the future. Engagement of contractors will come under closer scrutiny with the introduction of the new Alienation of Personal Services Income legislation. The specific nature of tests to be passed require advisers to carefully examine each aspect of the tests outlined in the legislation. The PAYG provisions impacting on partners and beneficiaries raise complexities in determining instalment income. This session highlights the practical issues affecting contractors, employees, trust beneficiaries and partners.
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