A council tractor travels on public roads between work sites what are the implications for claiming Fuel Tax Credits?
The ATO is issuing a new series of taxation rulings. This article considers the ATO’s draft statement explaining the purpose of these, the extent to which they may be relied upon, and the protection they afford. It concludes with some suggested adjustments for work practices.
As the FBT return lodgement deadline looms it is time for the often thankless but nevertheless significant task of preparing the FBT return. We provide some tips below that may assist and have provided plenty of helpful links to the ATO website.
Are benefits provided to a caretaker residing on business premises subject to FBT?
FBT Q&A Â– Does the eligible seminar exclusion for meal entertainment apply where the 50-50 method to value meal entertainment is chosen?
Where an employee attends an ‘eligible seminar’ they may be provided with a ‘sit down’ meal at the end of the seminar that constitutes meal entertainment.
FBT Q&A -Â- Will a waiver of overpaid salary always result in a debt waiver fringe benefit where the debt exceeds the minor benefit threshold?
Where an overpayment of salary is mistakenly made a subsequent waiver of the overpayment will usually result in a debt waiver fringe benefit occurring. However, this may not be the case where the debt is a bad debt or is considered uneconomical to recover.