Fringe Benefits Tax Stakeholder Group key messages 17 November 2021

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