FBT: alternatives to evidentiary documents

FBT: alternatives to evidentiary documents

From 1 July 2023, employers have the option to use appropriate alternative statutory evidentiary documents to satisfy FBT record-keeping requirements. Employers that provide certain fringe benefits to their employees can soon use appropriate alternative statutory...
Home charging rate for EVs released

Home charging rate for EVs released

The ATO has released a draft compliance guideline with the accepted rate for calculating the cost of electricity when an eligible EV is charged at an employee’s or an individual’s home. The draft compliance guideline contains the methodology for calculating the cost...
FBT reminder: electric cars exemption

FBT reminder: electric cars exemption

For the 2022-23 FBT year, your business may be able to receive an FBT exemption for certain eligible electric cars and associated car expenses. For the 2022-23 FBT year (1 April 2022 to 31 March 2023), your business may be able to receive an FBT exemption for certain...
Upcoming FBT related changes

Upcoming FBT related changes

ATO is looking to finalise a number of FBT related issues currently under consultation relating to car parking and electric cars. With 2023 in full swing, the ATO is looking to finalise a number of FBT related issues currently under consultation. For businesses, the...
Electric cars to be exempt from FBT

Electric cars to be exempt from FBT

An employee’s private use of an electric car provided by an employer may soon be exempt from FBT if newly introduced legislation passes Parliament. During the 2022 election campaign, Labor announced its Electric Car Discount policy in order to make electric cars...