Employers that have providing FBT car parking benefits for the 2022-23 FBT year should be aware that the ATO has finalised the changes to its ruling on car fringe benefits
Yes, it’s that time of year again! As the so-called ‘silly season’ gets underway, and with many employers reverting to pre-pandemic norms around meal entertainment, it is the perfect time to consider what benefits your business is going to provide to staff and how, with a little planning, employers might be able to avoid an FBT hangover.
As part of its election platform, the new Federal Government announced a policy to make certain electric vehicles exempt from import tariffs and Fringe Benefits Tax (FBT). We have detailled what the proposal looks like at this stage.
If you have employees, the more likely it is you are providing some form of fringe benefit and the higher the expectation the ATO will expect to see you lodge an FBT return.
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