Tag "FBT"

FBT ‘ Recent Developments at a Glance: March 2017

This article alerts you to some NFP sector- related developments over the past month. It deals with matters which have a more specialist nature or matters requiring only brief comment. There is material on Business Benchmarks, FBT – use of tax agents for FBT Returns, accounting for GST where total consideration is not known, accommodation […]

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FBT Q&A ‘ Is there a FBT limit for alcoholic drinks when an employee is travelling on work?

Food and drink consumed by an employee when travelling is generally regarded as sustenance and otherwise deductible, including where alcohol is consumed. However, is there a point in time when the alcohol consumption takes the food and drink outside of the sustenance category?

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FBT Q&A ‘ Purchase of exempt vehicle v ordinary sedan

If an employee intends using their employer provided vehicle only for home to work travel with minimal other private travel is it worthwhile for FBT purposes providing them with an exempt vehicle?

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FBT Q&A ‘ Reimbursement of drivers licence fees

Some employees are required to have a current driver’s licence as a condition of their employment. If the employer pays or reimburses their licence fees is the taxable value reduced under the otherwise deductible rule?

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FBT Q&A ‘ Are closing odometer records still required to be kept when valuing car fringe benefit taxable values?

Where car fringe benefits are being provided to staff, is it still necessary to keep closing odometer records?

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FBT ‘ Corporate bailment agreement; availability for private use

It is a requirement for a car fringe benefit to arise that the car be used for a private purpose or be available for the private use of the employee. This article considers circumstances in which this condition is not met.

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FBT Q&A ‘ Log book ‘purpose of journey’ description

Will the use of a detailed trip legend be acceptable for the purposes of completing a valid log book entry?

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FBT Q&A ‘ Pooled car: use of car by two or more employees

Will the use of a car by two or more employees always result in the car being classified as a pool car for FBT reporting purposes?

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FBT Q&A ‘ Are mayors and councillors employees for FBT purposes?

Are mayors and councillors employees for FBT purposes?

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FBT Q&A ‘ Whether the work of Councillors with home office and hot desk in Council Chambers is itinerant

Is the work of a councillor with a home office and a hot desk facility in the Council Chambers itinerant?

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