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Minor, infrequent and irregular use for an FBT exempt vehicle.
When an employer provides a vehicle to an employee, the issue of whether FBT applies will arise. Where a workhorse vehicle (e.g. single cab ute, panel van) has been provided to an employee, employers can rely on safe harbour treatment to treat the vehicle as meeting the requirements to be FBT-exempt.
Electric Vehicle Electricity Costs - how do we calculate?
A fully electric vehicle means no fuel costs however, your electricity at home has probably increased from charging your vehicle. If your vehicle is salary sacrificed or provided by your employer, you may be wondering “how do we calculate how much the recharge is costing?”
FBT Exemption for Electric Cars.
From 1 July 2022, FBT is no longer payable on benefits provided for eligible electric cars and associated expenses.
Electric Vehicle Exemption receives Royal Assent.
Since the Government announced the introduction of the Treasury Laws Amendments (Electric Car Discount) Bill in July 2022 we have all been eagerly awaiting royal assent for the Bill to become law. We are pleased to announce that royal assent was given on 12 December 2022 which means an FBT exemption is now available for eligible electric vehicles that are both first held and used on or after 1 July 2022.
COVID-19 vaccination incentives and rewards.
The ATO has reminded employers to consider their tax and super obligations when employees are provided with incentives or rewards for getting their COVID-19 vaccination.