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Federal Budget 2019 - Overview
How the 2019 Federal Budget affects you
FBT Reminder – Odometer Reading
‘Big awareness push’ underway as STP deadline approaches
GST collection on overseas goods at 300% of forecasts
The problem with getting to 53 years of age.
Lost Beneficiaries
New quarterly STP reporting method for closely held payees revealed
Some Australian figures to help on Budget night.
Employers hit with rolling SG audits as ATO toughens stance
Resources to help understand and implement Single Touch Payroll (STP)
Big fines, prison on the cards as new SG penalties introduced
Extra website resources and tools is one way we offer you and your family more.
FBT Exemption for Various Work Vehicles
Tax payable on expenditure recoupments
ATO identifies SMSF contravention red flags
Who wins dispute about taxable income?
Australia - facts & figures March 2019
Strategies to handle scam phone calls and problem e-mails.
Instant asset write-off threshold upped to $25k
Jail time for GST fraud
Correcting GST Errors
Fuel tax credit rates raised
ATO set to contact clients for overdue TPAR
Reminder on Victoria Property Duties
How Australia is performing.
Global outlook summary: Down but not out
Bookkeepers remind on incoming TPRS obligations
Golden Rules for Deductions
How's Australia going - vital statistics?
Tax, SMEs set to be ‘political football’ in 2019 as election nears
Articles archive
Quarter 1 January - March 2019
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Quarter 3 July - September 2015
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Quarter 4 October - December 2014
FBT Reminder – Odometer Reading

Anybody who has a Fringe Benefits Tax obligation should take an odometer reading of motor vehicles.



       


 


This reading is one of the annual requirements of the logbook method of fringe benefits calculations for the Fringe Benefits Tax period ending 31st March 2019.


If you are not sure if you have an obligation, it will only take a few minutes, so just do it!


Remember also that there are quite a few types of FBT and that FBT law includes various categories of fringe benefits and specific valuation rules for each category. The list below outlines what needs to be considered.


You will need to pay FBT even if the benefit is provided to an associate of your employee or by a third party under an arrangement with you.


Benefits that attract FBT are:


  • Car fringe benefits
  • Car parking fringe benefits
  • Entertainment and fringe benefits
  • Expense payment fringe benefits
  • Loan fringe benefits
  • Debt waiver fringe benefits
  • Housing fringe benefits
  • Board fringe benefits
  • Living away from home allowance fringe benefits
  • Property fringe benefits (including property, goods or shares)
  • Residual fringe benefits (benefits not covered by the above categories)

 


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28th-April-2019
 

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