ATO contact regarding business cars and Fringe Benefits Tax (`FBT’)
The ATO has recently advised that it will be contacting taxpayers (and tax agents on behalf of their clients) that have been identified as having cars registered in their business name who have not lodged an FBT return. The ATO has reminded businesses that: a car fringe benefit will occur when a business owns or […] Read More…
Work Christmas parties and FBT
‘Tis the season to be jolly! If you’re involved in the administration of fringe benefits tax (FBT) for your organisation, be sure to plan ahead this festive season. When rewarding employees with gifts or parties at Christmas, FBT may apply. Even if your organisation is exempt from income tax, providing food and drink could constitute […] Read More…
If you use your business vehicle for travel between work and home and the business vehicle is available for private use, it is considered a fringe benefit. This will apply to employees and directors. The ATO will be in contact with us, as your tax agent, to check that you are lodging the necessary paperwork. […] Read More…
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