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GrantConnect
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The Countries that Export the Most Wine in the World
Article archive
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Quarter 2 of, 2018 archive
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Touch Payroll (STP)
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‘Calm before the storm’: Government proposes 12-month SG amnesty
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Government intensifies cash payments crackdown - Kelly O'Dwyer
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Passive investment companies tax rate still 30%
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Cryptocurrency audits tipped to increase this EOFY
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Australia by numbers – Update
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$2.4m lost to tax scams, ACCC reports
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No GST on digital currency
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Federal Budget 2018 - Overview
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Your Budget
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4 components of our 2018 Federal Budget
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Resources to help understand and implement Single Touch Payroll (STP)
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New rules capture SMSFs trading big with cryptocurrency
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New passive income test for lower corporate tax rate
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‘A simple mistake can attract our attention’: ATO reminder about FBT slips-ups
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Australia by numbers – Update
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Beware residency rules if moving overseas
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Working holidaymakers and tax returns
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Single Touch Payroll – 1 April 2018 Action
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Property investors on notice after ATO spots false claims
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Australia's vital statistics
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Tax office releases fresh guidance on SMSFs
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Labor's tax plans could favour the rich, analysis shows
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FBT Reminder – Odometer Reading
FBT Reminder – Odometer Reading

Anybody who has a Fringe Benefits Tax obligation should take an odometer reading of motor vehicles.

       
 
This reading is one of the annual requirements of the logbook method of fringe benefits calculations for the Fringe Benefits Tax period ending 31st March 2018.
 
If you are not sure if you have an obligation, it will only take a few minutes, so just do it!
 
Remember also that there are quite a few types of FBT and that FBT law includes various categories of fringe benefits and specific valuation rules for each category. The list below outlines what needs to be considered.
 
You will need to pay FBT even if the benefit is provided to an associate of your employee or by a third party under an arrangement with you.
 
Benefits that attract FBT are:
  • Car fringe benefits
  • Car parking fringe benefits
  • Entertainment and fringe benefits
  • Expense payment fringe benefits
  • Loan fringe benefits
  • Debt waiver fringe benefits
  • Housing fringe benefits
  • Board fringe benefits
  • Living away from home allowance fringe benefits
  • Property fringe benefits (including property, goods or shares)
  • Residual fringe benefits (benefits not covered by the above categories)

 

 

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