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How exposed are you? Zipping off FBT returns secures protection

Published on 01 Aug 09 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

Many practitioners advise clients that a FBT return for a car fringe benefit is not required if the taxable value of the car fringe benefit is calculated using the cost basis. That advice creates an exposure for the practitioner. This article sets out how a practitioner can remove the exposure for years past and in the future.

Author profile

Christopher Wallis CTA
Chris commenced practice as a Barrister in 1991 and 27 years later has a strong no nonsense reputation throughout Australia in the fields of equity and revenue law. Chris’ focus is on keeping clients out of the AAT and Court using attention to detail and negotiation to secure certainty for clients at the earliest opportunity, a focus which has involved him in numerous in-house facilitation sessions. Chris is a regularly published author and a member of the Editorial Board of the Australian Tax Law Bulletin and also of the Australasian Tax Teachers Association (ATTA). Chris presents regularly throughout Australia for the professional bodies and ATTA and has completed studies in international tax at the Institute for Austrian and International Tax Law at Wirtschafts Universitat in Vienna and the IBFD in Amsterdam. Two of Chris' recently published articles have addressed issues arising under the ATO's in-house facilitation process. Subsequent changes to the process reflected observations in the articles. - Current at 08 October 2019
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