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This Thursday, 10 November 2011, Elizabeth Lucas FTIA (Grant Thornton), Greg Kent FTIA (PwC) and Tax Counsel Deepti Paton ATIA attended a meeting of the NTLG FBT Sub-committee. At this meeting, participants discussed a number of issues, including:

  • Ongoing discussions in relation to the FBT lodgment program. The Tax Institute has been engaged in discussions with the ATO for a number of months in relation to the appropriateness of the 2011-12 FBT lodgment program.
  • The recent case of Yip and FCT [2011] AATA 785, especially Deputy President Forgie’s comments in relation to the appropriateness of salary sacrifice arrangements.
  • The correct FBT treatment of a payment which attracts a surcharge where a credit card payment method is chosen.
  • The ATO’s approach to penalties where FBT liability has been misallocated within a group of companies.
  • The ATO’s FBT compliance activities, including an information gathering as well as compliance campaign in respect of LAFHA. The ATO has noted misuse of this allowance in a number of ways. The ATO is also focussing on a number of other problem areas, including late lodgment, investment allowance/cars, exempt vehicles, employee contributions and not-for-profit concessions.  

Members who seek further detail in relation to any aspect of the above are encouraged to contact us at Tax Policy.

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