What this Guideline is about 1. This Guideline sets out the acceptable discount to the valuation of housing fringe benefits provided to live-in-managers in a retirement village. Date of effect 2. This Guideline applies both before and after date of issue. It will be reviewed under the ATO's standard review process to ensure the currency […]
Learn MoreWhat this Guideline is about 1. This Guideline outlines the ATO's compliance approach to determining if employees in certain circumstances are travelling on work or living at a location away from their normal residence (living at a location). This Guideline should be read in conjunction with Taxation Ruling TR 2021/4 Income tax and fringe benefits tax: employees: accommodation […]
Learn MoreWhat this Guideline is about 1. An employer may elect under section 10 of the Fringe Benefits Tax Assessment Act 1986 (FBTAA) to apply the operating cost method to work out the taxable value of car fringe benefits provided to their employees. 2. One component of the operating cost method requires the employer to work out the business […]
Learn MoreWhat this Guideline is about 1. Generally, a fringe benefit arises where an employer makes a vehicle they hold available for the private use of its employee. However, under subsections 8(2) and 47(6) of the Fringe Benefits Tax Assessment Act 1986 (the car-related exemptions), a fringe benefit is an exempt benefit where the private use of eligible […]
Learn MoreWhat this Guideline is about 1. With the use of zero emissions vehicles (electric vehicles) on the rise in Australia, employers with fringe benefits tax (FBT) obligations and individual taxpayers (individuals) who incur work-related car and motor vehicle expenses are faced with the compliance challenge of calculating electricity costs incurred when charging electric vehicles at residential […]
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