fbt

Mid-FBT year fringe benefit compliance check-up

  It’s nowhere near Christmas yet (although a smattering of yule-infused ads have crept on to the TV), but in order to help practitioners get things right for their clients, and help them prepare for the inevitable FBT year end, the ATO has made known the fringe benefits tax issues that can benefit from a

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Board of Taxation review into FBT compliance costs

  The Board of Taxation has recently announced that it is launching a comprehensive review to determine whether there are opportunities for compliance costs to be reduced that are associated with employer obligations under FBT. In order to understand the sources of compliance costs, the Board of Taxation (BOT) is conducting focus groups, online surveys

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Beware consequences of a third party on FBT liabilities

For fringe benefits tax (FBT) to apply, the conventional wisdom is that the benefits involved are provided instead of cash salary, and further that such benefits are usually paid in respect of an employment relationship. Hence the pool of accepted FBT-attracting items — laptops, cars, entertainment expenses and so on — that an employer may

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ATO nominates the FBT issues that grind its gears

March 31 and the end of the FBT year is around the corner, so to help practitioners get things right for their clients, the ATO has made public the fringe benefits tax issues that attract its attention. Broadly (not just in relation to FBT), it says the following behaviours and characteristics tend to raise a

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