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10 May 2019 Regarding Senior Tax Adviser’s article ‘Simplifying the FBT Minor Benefits Exemption’

TaxVine 16 (3 May 2019)

MEMBER 110 writes:

I just read Bruce Quigley’s TaxVine article regarding simplification of the minor benefits rule. I’m not sure I’m reading it correctly – is 10 meals per year the proposed number of meals to be considered infrequent? Would one per month therefore be ineligible for the exemption? If my interpretation is correct, that is surely seriously conservative and favouring the ATO, especially when you highlight 47 taxi trips as being ok. I might be missing something. Surely even 20 lunches (that are not regularly scheduled of course) per year should be ok. Query whether actually putting a number on it simplifies the matter at all.

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