Welcome
The Chair opened the meeting with an acknowledgement of country. New members were welcomed.
FBT stakeholder group: Annual review
The Chair provided a summary of changes made as part of the review:
- In recognition that the group is ongoing in nature, the type of group has been changed and is now the Fringe Benefits Tax Stakeholder Group.
- The online platform GovTEAMS will now be used for most group communications, access to key documents and discussion topics.
- There is a new process for submitting items for work on GovTEAMS.
- New group members will be added to represent the small business and not-for-profit sectors.
Program of work update
The status of the following program of work items were finalised.
- Journal Entries: Provided that the obligation for the employee to make a recipient's contribution existed at the end of the FBT year, payment of an amount by an employee recognised through a journal entry, made after the end of the FBT year, can be recognised as a recipient's contribution to reduce the taxable value of the fringe benefit.
- Work from home: The Work From Home fact sheet was published on 12 March 2021.
- Cars garaged at business premises: Web content has been published.
- Novated leases / Bona fide leases: Car leasing fringe benefits online page is now live.
- Associate leases: Where an associate is also a recipient of the benefit, the associate's contribution to the fringe benefit can be taken into account (providing it is not disproportionate).
Deferral of due date for final payment of FBT
The Chair informed the group of the deferral of the FBT balancing payment due date for employers who use a tax professional and who lodge electronically to 25 June.
FBT clients / agent links and lodgment program eligibility
David Baker, a guest speaker from Digital services, Project and system support, explained a proposed change to the rules regarding tax agent eligibility to the FBT lodgment program.
The change will enable eligible clients to receive the concessional due date for lodgment of their FBT return.
Reskilling / Retraining 2020–21 Budget measure
The ATO noted than an Exposure Draft and Draft Explanatory Memorandum for these proposed legislative amendments had been released on the Treasury website, and that comments closed 29 April 2021. Public Advice and Guidance needs for this measure will be promptly assessed once this measure passes into law, given the measure's proposed retrospective application.
Any new web guidance on this measure may be considered for stakeholder group input.
Action items
Action item |
Employer contribution to car fringe benefits |
Due date |
To be confirmed |
Responsibility |
ATO |
Action item details |
Upon publication of TD relating to employer contribution to car fringe benefits, members will be informed via GovTEAMS. |
Action item |
Car Parking TR 2019/D5 |
Due date |
To be confirmed |
Responsibility |
ATO |
Action item details |
Upon publication of car parking TR 2019/D5, group members will be notified. |
Action item |
Employer's Guide to FBT: Chapter 7 |
Due date |
To be confirmed |
Responsibility |
ATO |
Action item details |
Upon publication of Chapter 7 of the Employer's guide to FBT (car fringe benefits), group members will be notified. |
Action item |
Draft TD 93/142: Term of a Lease |
Due date |
To be confirmed |
Responsibility |
ATO |
Action item details |
Upon publication of draft TD 93/142, group members will be informed and provided one month to provide comment / feedback |
Action item |
Employer's guide to FBT; Chapter 15 |
Due date |
To be confirmed |
Responsibility |
ATO |
Action item details |
Upon publication of Chapter 15 of the FBT Employer’s Guide re Tax exempt body, entertainment fringe benefit, group members will be notified. |
Action item |
Reskilling / Retraining 2020–21 Budget Measure |
Due date |
To be confirmed |
Responsibility |
External group members |
Action item details |
Stakeholder Group members are invited to raise any points re the Re-skilling / Retraining 2020–21 Budget Measure that they believed would require or benefit from ATO guidance. |