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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

230

Published

April 13, 2022

Notes Online Home 2022 FBT

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

 These seminar notes cover the following topics:

  • What’s new for FBT in 2022
  • NTAA’s 2022 Audit Survival Guide
  • Car Fringe Benefits – No Mistakes
  • Meal Entertainment – Minimise Audit Risk
  • ‘Cutting edge’ salary packaging and FBT planning techniques
  • Reportable Fringe Benefits - Demystified

Chapters and Articles in 2022 FBT

How does the ATO identify employers who will be audited in the 2022 FBT year?

How does the ATO identify fringe benefits provided during the 2022 FBT year?

NTAA guide to the traps and tips associated with preparing the 2022 FBT Return

ATO audit crackdown on employee declarations – Mistakes will be costly!

Understanding the fundamentals of car fringe benefits

Key issues when valuing cars under the Statutory formula method

An ‘audit proof’ guide to calculating FBT under the Operating cost method

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

Traps and tips associated with car fringe benefits during COVID-19

The fundamentals of salary packaging

Advanced salary packaging opportunities for employees earning less than $90,000

FBT planning and salary packaging strategies for directors, executives and business owners

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 events/circumstances

Which fringe benefits are reportable for payment summary purposes?

Which fringe benefits are excluded from the reporting requirements?

How is an employee’s reportable fringe benefit amount calculated?

When are employers required to record superannuation on a payment summary?

What penalties apply for errors in recording RFBAs and RESCs on payment summaries?

Precedent letters for reportable fringe benefits and reportable superannuation

Key ATO Ruling on FBT treatment of employees’ meal and accommodation costs

Latest developments for car parking fringe benefits in the 2022 FBT year and beyond

New guidelines confirm major headaches with employers re-leasing cars

Recent decision confirms FBT sting with undocumented packaging agreements

FBT changes introduce concessions for retraining and reskilling staff

New rules provide FBT windfall for many small and medium-sized employers

NTAA guide to the updated rates and thresholds for the 2022 FBT year