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FBT Article – Car parking fringe benefits – ATO restatement of rules and expansion of the net

The ATO has released a draft ruling on car parking fringe benefits and a draft replacement chapter on car parking in the ATO’s FBT guide for employers.  In particular, we draw your attention to the ATO’s approach to car parking fringe benefits in the context of workhorse cars and to two issues relating to commercial …

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FBT – Employee transport costs – new ATO draft ruling!

The ATO has split the 2017 draft ruling on travel and accommodation expenses. It has issued a new draft ruling on travel costs and foreshadowed a separate ruling on accommodation. In our August 2017 Newsletter and as part of TaxEd’s 2018 FBT Roadshow, we presented and outlined the ATO draft tax ruling TR 2017/D6: Income …

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Categories FBT

FBT – ATO puts the spotlight on valuations used for car parking fringe benefits

We set out some thoughts in relation to the ATO recent expression of interest in market valuations used for car parking. Car parking fringe benefits have become a focus of the ATO in recent times. The ATO’s historical explanation of this area, TR 96/26 ‘Fringe benefits tax – car parking fringe benefits’ was withdrawn in …

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Categories FBT

FBT Q&A – Motel accommodation: car garaged at or near place of residence?

Question Under the statutory formula method of calculating a car fringe benefit, does a car fringe benefit arise where an employee who regularly travels to rural areas as part of their duties, and who regularly stays at motels overnight whilst on work-related travel, is provided with an employer provided car to undertake the travel? Answer …

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Categories FBT

Payroll – Is an allowance paid to an employee aged over 70 ordinary times earnings and subject to SG?

Employers need to consider the superannuation guarantee implications of equalisation payments made in lieu of increased super contributions. An interesting matter crossed our desk recently. Whilst the matter was received by way of a question submitted to the TaxEd member Q&A portal, we will deal with the issue by way of a short article. Consider …

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Eligibility – Charities operating overseas: What you need to know (Part 2)

In a previous article, we looked at ‘External Conduct Standards’ which apply to charities that engage in activities outside Australia. However, charities and many other categories of TaxEd subscribers need to be mindful that Australian taxation concessions are predicated on the relevant entity continuing to have an appropriate nexus with Australia. Charities that are registered …

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Payroll Q&A – TPAR reporting and council member payments

Question As a local government entity, does council need to report payments (e.g. sitting fees and allowances) to council members in the taxable payments annual report (‘TPAR’)? Answer Government entities, whether federal, state, territory or local, are required to report the total payments they make to an entity for providing services (whether wholly or partly) …

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