Hot Issues
spacer
Fringe Benefits Tax (FBT): employees’ private use of vehicles
spacer
ATO to contact clients over bank details
spacer
ATO claws back $850m in unpaid SG in FY 17-18
spacer
Appetite for property in SMSFs shows signs of life despite tough market
spacer
Superannuation gender gap narrowing, research shows
spacer
Identification numbers for directors
spacer
How financial advice helps create wealth.
spacer
Australia's vital statistics
spacer
Unlocking equity crowdfunding in Australia
spacer
$20m boost for SME clients looking to exporting
spacer
Work-Related Expenses
spacer
ATO updates crypto guidance
spacer
ATO zones in on hundreds of newly created reserves
spacer
Senate passes $20,000 instant asset write-off extension
spacer
Victorian Vacant Property Tax
spacer
Director Penalty Notices
spacer
ATO set to pounce on undisclosed income streams
spacer
In case you missed it – The company tax Bill that did pass Parliament.
spacer
GST spotlight headed to smaller end of town
spacer
Superannuation Amnesty – Maybe! Maybe Not!
spacer
ATO drills in car-sharing focus this tax time
spacer
What is Bankruptcy?
spacer
Update of Australia's vital statistics
spacer
ATO speaks on risk factors, surveillance triggers for FY19
spacer
ATO’s corporate residency guidance cops backlash
spacer
ATO dispels top tax time myths to clients as clampdown rolls out
spacer
Tools for budgeting, cash flow, Super and more ….
spacer
Guidance for SMSFs on transfer balance reporting
spacer
ATO issues alert on super, tax scams
Article archive
spacer
Quarter 3 July - September 2018
spacer
Quarter 2 April - June 2018
spacer
Quarter 1 January - March 2018
spacer
Quarter 4 October - December 2017
spacer
Quarter 3 July - September 2017
spacer
Quarter 2 April - June 2017
spacer
Quarter 1 January - March 2017
spacer
Quarter 4 October - December 2016
spacer
Quarter 3 July - September 2016
spacer
Quarter 2 April - June 2016
spacer
Quarter 1 January - March 2016
spacer
Quarter 4 October - December 2015
spacer
Quarter 3 July - September 2015
spacer
Quarter 2 April - June 2015
spacer
Quarter 1 January - March 2015
spacer
Quarter 4 October - December 2014
Quarter 1 of, 2018 archive
spacer
Our website is really our digital office.
spacer
‘Substantiation will be a key focus’: ATO drums in tax time 2018 hit list
spacer
Super changes: $1.6 million transfer balance cap and death benefit pensions
spacer
Payroll, compliance issues top dodgy practices in Aussie business
spacer
Employee travel expense deductions
spacer
The Goldilocks effect - Economic and market update 4Q 17
spacer
Tax assessments confirmed for undisclosed business income
spacer
Super returns on the up despite clients’ hesitation
spacer
Australia. All you need to know to be the expert.
spacer
Business confidence hits 5-month high: NAB
spacer
Caution advised on best interests duty with cryptocurrencies
spacer
$20,000 asset write-off renewed for another financial year.
spacer
SMSF compliance traps with bitcoin
spacer
Where Australia is at. Our leading indicators.
spacer
Foreign resident CGT withholding: early recognition of tax credit
spacer
ATO set to doorknock as 60% of cash-heavy businesses caught
spacer
New downsizing cap available
spacer
Capital Gains and Renounceable Rights
spacer
Treasury finds Australia 'increasingly uncompetitive' as US moves on tax plans
spacer
Australia's vital statistics
spacer
Our Advent calendar for 2017
Fringe Benefits Tax (FBT): employees’ private use of vehicles

The Australian Taxation Office has issued guidance for employers on determining an employee’s private use of a vehicle.

       

 

Draft Practical Compliance Guideline PCG 2017/D14 should provide more certainty and transparency about the circumstances where the ATO won’t apply compliance resources to investigating whether private vehicle use meets the car-related FBT exemptions.

Eligible employers who rely on this guideline won’t need to keep records to prove that an employee’s private use of a vehicle is minor, infrequent and irregular.

The eligibility conditions include the provision of an eligible vehicle, with no non-business accessories, to an employee to for work duties that is not part of salary-sacrifice arrangement, costs less than luxury car tax threshold and all steps have been be been taken to limit private use.

The vehicle must travel from home to work with diversion allowance of less than 2 kilometres, does not have a single private trip of more than 200 kilometres and total private trips of no more than 750 kilometres during FBT year.

One complying illustration is an employee who stops at a newsagent to pick up a paper (for personal use) on the way to work, but the diversion adds less than 2 kilometres to the total journey. 

The same employee who travels from work to football practice which is more than 2 kilometres diversion from usual work to home travel will not be able to use this ruling.

Given the complexities this may generate, we suggest you talk to us about whether the new guidance applies to your FBT circumstances.

 

 

AcctWeb