Institute of Certified Bookkeepers
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August 2018 Question of the Month – Exemptions for one-off EFT payments

  • 127 posts
  • # 117078

Are there any workarounds or exemptions to paying one-off EFT payments for $1,000 per person who helped in an event in the advertising industry – perhaps gift payments?

  • 127 posts
  • # 117271

As this is a commercial event and not a Not-For-Profit event who can engage volunteers, the advertising agency is required to pay the volunteers. As the volunteers are not employees nor do they have an ABN, then the advertising agency is required to provide each volunteer a ‘statement by supplier’ ATO form, which allows a person being paid for a ‘hobby’

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