It is significant to know regarding the tax treatment process which commonly occurs between volunteers and not for profit organizations. It is a rule that volunteer doesn’t want to pay taxes for their payment or welfare, they receive according to their capacity. NFP organizations are not legally answerable for fringe benefits tax and PAYG withholding on the amount they make or benefits they are given to volunteers. Volunteers can get their amount in terms of cash, non cash or a combination of cash and non cash benefits. These amounts are provided several descriptions including reimbursements and allowances and honorariums, sometimes they are provided with no name. The description or name won’t determine the tax treatment purpose, it depends only on the payment & volunteer’s circumstances. If a person’s are working as a hobby or pastime not for producing income and other welfare received from such activities are not quantitative income.
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AuthorKervin Kupp Archives
April 2020
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