ATO flags FBT target areas for 2025

by

Ed.

From www.accountantsdaily.com.au: The ATO has identified common errors employers make regarding fringe benefits tax (FBT), particularly around vehicle classification and logbook accuracy.

Employers often misclassify vehicles, incorrectly treat private use as business use, and fail to maintain detailed logbooks, leading to invalid records and potentially higher FBT liabilities.

To avoid these issues, the ATO advises employers to accurately identify benefits, determine their taxable value, lodge FBT returns on time, and maintain thorough records.

Filed under: FBT

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