Looking into a recent case regarding car parking fringe benefits: Virgin Australia Airlines Pty Ltd v FCT

It is not often there is a court decision involving the interpretation of provisions of the Fringe Benefits Tax Assessment Act 1986. (FBT Act). Strangely though many of the recent cases have involved the interpretation of the car parking fringe benefit provisions. In the recent case, Virgin Australia Airlines Pty Ltd v FCT [2021] FCA … Read more

Another look at the FBT treatment of equipment used in various work from home scenarios

We continue to get many questions seeking clarification regarding the FBT rules regarding how to treatment equipment ‘provided’ for use by employees in work from home scenarios. Whilst it is not our usual practice, we reproduce an article published recently which covers off the more common questions we get asked. Despite there being some possible … Read more

Car parking threshold for FBT 2021/22

The ATO has confirmed the car parking threshold for the 2021/22 FBT year is $9.25. The threshold is one of a number of matters an employer needs to consider when determining whether it provides car parking fringe benefits. Understanding the car parking threshold is critical to correctly complying with the car parking fringe benefit rules. … Read more

Categories FBT

Member Q&A – How to calculate available ‘car parking days’ under the statutory method where parking availability is reduced due to COVID

Question The ATO guidance regarding car parking fringe benefits and COVID states: Closure of work car park If, on a particular day, your office is closed due to COVID-19 and therefore the work car park is also closed, you will not have provided a car parking benefit as there will be no car space available … Read more

Categories FBT

New FBT ’employee reskilling’ exemption: Exposure draft legislation released

As part of the 2020–21 Federal Budget, the Government announced that it would introduce an FBT exemption for retraining and reskilling benefits that employers provide to redundant, or soon to be redundant, employees where the benefits may not be related to their current employment. Currently, unless the benefit satisfies the ‘minor benefits’ exemption, FBT is … Read more

Member Q&A: Interaction between temporary asset expensing and the otherwise deductible rule

Question Is a ‘once off’ deduction allowed under the Government’s “temporary full expensing” measure for assets purchased by individuals earning salary & wages (employees)? If so, can the “otherwise deductible” rule now apply, for example, if an employee is reimbursed for the cost of home office equipment that exceeds $300. Answer The temporary full expensing … Read more

Categories FBT