From www.alvarezandmarsal.com: The Federal Court of Australia ruled that the Grand Central Shopping Centre’s car parking facilities do not qualify as a “commercial parking station” for Fringe Benefits Tax purposes, challenging the Australian Taxation Office’s broader interpretation.… read more
From www.pitcher.com.au: The Federal Court of Australia ruled that a shopping centre car park near Toowoomba Regional Council premises is not considered a commercial parking station for FBT purposes, contradicting the ATO’s prior stance.… read more
From www.accountantsdaily.com.au: The Federal Court ruled that a Toowoomba shopping centre car park is not classified as a ‘commercial parking station’ for FBT purposes because it is not operated for profit.… read more
From fortisap.com.au: Businesses must review their FBT obligations before the year ends on 31 March, focusing on electric vehicle exemptions, contractor classifications, and record-keeping.
Employers providing electric vehicles may qualify for FBT exemptions if they meet specific criteria, while FBT on work-from-home equipment is generally exempt unless used primarily for personal reasons.… read more
From www.carexpert.com.au: The FBT exemption for electric vehicles (EVs) and plug-in hybrids (PHEVs) has resulted in a tax revenue loss of approximately $564 million annually, significantly exceeding the original forecast of $55 million.… read more
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.… read more
From bdo.com.au: A Federal Court ruling declared a Toowoomba shopping centre car park as non-commercial for Fringe Benefits Tax purposes, contradicting ATO’s Taxation Ruling TR 2021/2.… read more
From BDO Australia: BDO tax experts discuss recent updates and ATO insights into FBT and FBT compliance.
Content includes current ATO focus areas, key tips and detailed panel discussion with Peta Lonergan, ATO Assistant Commissioner.… read more
From au.andersen.com: Fringe Benefits Tax (FBT) 2025 outlines the latest updates on tax rates, exemptions, and management of FBT obligations.
From www.lowelippmann.com.au: The FBT year ends on 31 March 2025, prompting a review of key issues including FBT exemptions for electric vehicles, work-from-home equipment, and contractor classifications.… read more
From www.themandarin.com.au: Treasury’s costings for a proposed policy simplifying meal entertainment deductions for small businesses highlight significant uncertainties, with preliminary figures suggesting potential costs of $1.6 billion for broader entertainment expenses and $500 million specifically for meals.… read more
From www.professionalplanner.com.au: The Coalition’s recent proposal aims to simplify tax deductions for small businesses, allowing them to claim up to $20,000 in meal expenses for off-site functions without incurring fringe benefits tax.… read more
From www.pwc.com.au: The Australian Government will phase out the fringe benefit tax (FBT) exemption for plug-in hybrid electric vehicles (PHEVs) starting 1 April 2025, limiting eligibility to those with a financially binding commitment established before this date.… read more