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22 Feb 13 NTLG FBT Sub-Committee

Last Thursday 14 February 2013, Elizabeth Lucas ATI (Grant Thornton) and Greg Kent CTA (PWC) attended a meeting of the NTLG FBT Sub-Committee. At this meeting, participants discussed a number of issues, including:

  • Treatment of unlisted options not acquired at a discount and the associated FBT consequences;
  • Forthcoming finalisation of TD 2012/D8 in relation to reasonable amounts for food and drink expenses incurred by employees on LAFHA under 31G of FBTAA for the 2014 FBT year;
  • 2013 FBT Return lodgement arrangements, including electronic lodgement;
  • ATO FBT risk and compliance update, including audit activity and increased focus regarding non and late lodgers;
  • Living away from home allowances and substantiation arrangements;
  • Whether a range of FIFO and DIDO travel satisfy 31E requirements;
  • Distinguishing between cash allowances and LAFH allowances;
  • Relocation transport expenses and meaning of  'take up residence'; and
  • Estimating fuel expenses for the purposes of determining recipients payments.

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