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16 Nov 12 NTLG FBT Sub-Committee

Last Thursday 8 November 2012, Elizabeth Lucas ATI (Grant Thornton), Greg Kent CTA (PWC) and Tax Counsel Stephanie Caredes CTA attended a meeting of the NTLG FBT Sub-Committee. At this meeting, participants discussed a number of issues, including:

  • Living-away-from-home allowance issues concerning:
    • Maintaining a home in Australia;
    • Whether the transitional provisions will apply in certain circumstances;
    • Whether a salary review amounts to a “material variation”;
    • Declarations “drive-in drive-out” employees can provide; and
    • Utility costs forming part of accommodation expenses for LAFH purposes;
  • FBT treatment of unlisted employee share scheme options not acquired at a discount per ATO ID 2012/68;
  • Valuation of entertainment facility leasing expenses;
  • The ATO’s FBT compliance activities including  focusing on ensuring FBT returns are lodged where required, ensuring “employee contributions” to fringe benefits received are reported on both an employer’s FBT Return and Income Tax Return, using data matching to ensure car fringe benefits are reported and ensuring FBT rebates are claimed by eligible employers only; and
  • The Lodgment Program Differentiation Framework as it impacts FBT lodgements.

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