Published on 21 Feb 06
by VICTORIAN DIVISION, THE TAX INSTITUTE
With the reduction in individual tax rates many employees have stalled in their deliberations to have cars provided as fringe benefits. This paper looks at:
- traps to watch for when completing the 2006 FBT return
- employee contribution method of calculating FBT
- carry forward of excess employee contributions
- when to swap between valuation methods for car fringe benefits
- novated leases.
Andrew is the Partner responsible for the firm's Employment Tax Solutions Group in KPMG's Melbourne office. This group specialises in fringe benefits tax, salary packaging, WorkCover, Payroll Tax, Pay As You Go, group certificate reporting and the Superannuation Guarantee Charge. Andrew has wide experience in the provision of Employment Taxes advice to many of Australia's largest corporates, Victorian Government Departments and Victorian Government Enterprises. Current at 29 May 2007
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