Tag "FBT"

FBT Q&A – Fringe benefits provided to deceased employee’s family.

Is FBT payable by an employer where the employer pays for the funeral expenses of a deceased employee?

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FBT – FBT 2015-16: The top 10 tips for getting your FBT right

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.

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FBT – The distinction between a volunteer and an employee for FBT purposes

Are benefits provided to a caretaker residing on business premises subject to FBT?

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FBT – The taxi exemption and Uber

An employee decides to use Uber instead of a taxi – does it impact the Section 58Z FBT taxi travel exemption?

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FBT Q&A – 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.

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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.

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FBT – FBT Treatment of overpaid salary

What are the FBT implications where an employer mistakenly overpays an employee and enters into an arrangement for the repayment of the overpaid amount over time?

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FBT – The ATO is considering the ‘workhorse’ vehicle exemption and the minor, infrequent and irregular private use requirement.

The ATO is seeking input re a possible review of guidelines dealing with common FBT issues with vehicles, including the old chestnut of “what is private use” in the context of the ‘workhorse’ vehicle minor, infrequent and irregular exemption.

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FBT Q&A – Redundancy outplacement training sessions

Are redundancy outplacement training sessions considered to be a form of “work related counselling” and therefore an exempt benefit?

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FBT Q&A – Log book ‘purpose of trip’ entries

When completing a motor vehicle log book for the purposes of the operating cost method of valuing car fringe benefits, will the description ‘business journey’ suffice?

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