With the 2024 FBT year now over the focus switches to FBT return preparation and lodgement. This article outlines a variety of FBT matters that have crossed our desks in 2024, including the challenge of getting FBT compliance right.
It seems appropriate for our final edition of The Assessment in 2023 that we look back on a few tax decisions from this year including EV charges and NFP reporting. We shall also cast our minds forward to foresee some possible tax changes to come in 2024.
We would like to provide an end of year summary regarding various tax issues that have being simmering along over recent years. All of these issues have been evolving for several years and are of widespread application.
The Government recently announced a proposal that may provide FBT exemptions for electric vehicles. Read our latest article to learn more.
The ATO’s changed view of whether a shopping centre car park is a commercial car parking station (for FBT purposes). For many employers this will mean, for the first time, a car parking fringe benefits liability exists as from 1 April 2022.
We had a little laugh recently when Chartered Accountants Australia & New Zealand (CAANZ) lodged a submission with the Treasurer (3 June 2020) noting “FBT
Melbourne (Head office)
Level 9, 41 Exhibition St, Melbourne, VIC, 3000
© 2022 by Webb Martin Consulting Pty Ltd. All rights reserved. Liability limited by a scheme approved under Professional Standards Legislation.
Website by Amplified Marketing
