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 …
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 …
Read moreFBT – Employee transport costs – new ATO draft ruling!
Does FBT apply to a meal consumed and travel undertaken by staff who attend an event sponsored by their employer? Question We are a government department and often provide sponsorship to third party organisations. In return, we may receive spots for annual award dinners etc. which we then send our staff to. We assume FBT …
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 The ATO’s historical explanation of this area, TR 96/26 ‘Fringe benefits tax – car parking fringe benefits’ was withdrawn in …
Read moreFBT – ATO puts the spotlight on valuations used for car parking fringe benefits
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 …
Read moreFBT Q&A – Motel accommodation: car garaged at or near place of residence?
Are the PCG 2018/3 guidelines compulsory? If not, what records need to be kept? Question A dual/crew cab 4×4 has been made available to an employee for private use. The vehicle meets the definition of qualifying for the work-related use exemption as per MT 2024, paragraph 8b. To comply with the private use restrictions being …
Christmas employee functions will have varying degrees of lavishness. We look at some scenarios and assess their ‘Grinch’ risk. With the end of the calendar year fast approaching, many of you may be preparing an end of year celebration for staff. As with most things involving an employer and staff, fringe benefits tax (FBT) must …
T’is the season for gifts – but are you also making a gift of GST or FBT to the Revenue? Based on the decorations in the streets and the shopping centres, the Christmas season has well and truly arrived and many are caught-up in the gift-giving spirit. The making of a gift by a business/entity …
Question We run a number of one or two day structured training courses for new recruits and existing staff wishing to update their working knowledge. At the end of the day’s training, the group will go out for a meal at a restaurant as part of team building. Is this classed as entertainment or is …
In relation to employee relocation costs, what are the more common available heads of salary sacrifice? Question We have made an offer to an individual to take up a senior management role with us. The individual and his family live interstate and will relocate if he accepts the offer. They have enquired as to whether …