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Disclaimer
These notes are intended to be a guide only. None of the comments contained in these seminar notes are intended to be advice, whether legal, financial or professional. You should not act solely on the basis of the information contained in these notes because many aspects of the material have been generalised and the tax laws apply differently to different people in different circumstances. Further, as tax and related laws change frequently, there may have been changes to the law since the notes were written. Specific advice should always be obtained from a tax professional.

Document Type

Publication

Pages

244

Published

September 21, 2020

Notes Online Home 2018 FBT

This publication, as a whole, is available in HARDCOPY only.

 These seminar notes cover the following topics:

  • What’s new for FBT in 2018?
  • NTAA’s 2018 FBT Audit survival guide
  • Meal Entertainment – no mess, no fuss and no mistakes!
  • Car Fringe Benefits – The biggest risk, the biggest cost
  • Car parking benefits – demystified!
  • FBT planning strategies that save employers and employees

Chapters and Articles in 2018 FBT

When does an employer provide entertainment?

Fundamentals of identifying when food and drink is ‘meal entertainment’

Methods for valuing meal entertainment

Applying the valuation rules to particular circumstances

Income tax-exempt employers and entertainment

Calculating the taxable value of car parking fringe benefits

Record keeping requirements for car parking fringe benefits

When does the provision of a parking space represent a car parking fringe benefit

Fundamentals of car fringe benefits

ATO announces audit crackdown on the Statutory formula method

An ‘audit proof’ guide to using the Operating Cost method

How to identify if a car benefit is Type 1 or Type 2

Detailed NTAA guide to calculating FBT payable on luxury cars

Fundamentals of salary packaging

Advanced salary packaging opportunities for employees on all income levels

Advanced salary packaging opportunities for executives, directors that save $’000s

Tips and traps associated with employees of FBT – exempt and FBT – rebatable employers salary packaging

Case study shows how an employer saves over $10,000 by allowing employees to salary package

How does the ATO identify all fringe benefits provided during an FBT year?

NTAA guide to the traps and tips associated with preparing the 2018 FBT Return

ATO uncovers FBT sting with benefits provided by contractors, suppliers and clients

ATO audit offensive on employer declarations – Mistakes will be costly

NEW FBT rate, gross-up rates & reportable benefit rate for the 2018 FBT year

A new landscape for employers providing travel-related benefits to employees

ATO issue further guidance on the simplified approach to calculating FBT on fleet cars

New rules provide FBT windfall for small business employers – Don’t miss out

ATO releases landmark concessions for employers providing utes, panel vans etc.

NTAA guide to the FBT rates and thresholds for the 2018 FBT year