The following car parking threshold applies for the 2017/18 FBT year:
- Car parking threshold – $8.66 (up from $8.48 in the 2016/17 FBT year).
Employers are reminded that any liability for FBT on car parking involves ascertaining whether, on the first business day of the FBT year, the lowest fee charged for all day parking at any commercial car parking station located within 1km of the employer-provided car parking is more than the threshold. If the lowest fee charged is not more than the threshold, liability will not arise.
In considering what is lowest fee charged, it is permissible to use a periodic parking rate (i.e. weekly, monthly etc.) and divide by the number of business days in the period (business days excludes Saturday, Sunday and public holidays).
Further ATO information re car parking fringe benefits is available here