Introduction
The Chair opened the meeting with an acknowledgement of country.
Program of work update
The status of the following program of work items were discussed.
- Car fringe benefits – calculation of home electricity costs attributable to the 'fuel' for electric vehicles.
- Car fringe benefits: Chapter 7, Fringe benefits tax – a guide for employers is available for Stakeholder Group feedback.
- Tax exempt body, entertainment fringe benefits: feedback from the stakeholder group on draft ATO guidance is being considered prior to publication of online content.
Program of work submission
Minimum residual for 8-year car lease. This new item has been accepted on to the program of work. Focus is on whether such a lease is bona fide as, if not, ATO preliminary position is that a property fringe benefit may result, in line with Tax Determination 95/63.
COVID-19 Vaccination incentives and rewards
The Stakeholder Group was invited to provide comments and/or feedback on a draft Fact Sheet.
Action items
Action item |
Car fringe benefits – how to calculate home electricity as 'fuel' costs for electric vehicles. |
Due date |
To be confirmed |
Responsibility |
ATO/FBT Stakeholder Group members |
Action item details |
This matter will be subject of ongoing discussions within the group. |
Action item |
Car fringe benefits: Chapter 7, Fringe Benefits Tax - a Guide for Employers. |
Due date |
January 2022 |
Responsibility |
FBT Stakeholder Group members |
Action item details |
Members to provide their comments and/or feedback. |
Action item |
Minimum residual for 8-year lease |
Due date |
To be confirmed |
Responsibility |
FBT Stakeholder Group members |
Action item details |
Members to provide comments and/or feedback on ATO preliminary position. |