Is there a commercial car parking station within one kilometre of where an entity provides parking?
One of the requirements for reporting car parking fringe benefits is to determine whether there is a commercial car parking station that charges more than the threshold amount (at 1 April) within a one kilometre radius of where the entity provides parking. This may be difficult when the entity has many offices around Australia and the staff preparing the FBT return are not familiar with local arrangements.
The car parking amount is set out in Taxation Determination TD 2009/11 issued annually by the ATO. The threshold is available in the Car parking threshold section of Fringe benefits tax - rates and thresholds.
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There are commercial websites that contain details of car parks around Australia. Entities may be able to use such sites to identify the location of commercial car parks. Such websites should be used with caution, as they may contain information that is out of date. All details should be confirmed by contacting the car park operator direct.
Once the locations of car parks have been identified, the entity needs to determine whether the lowest fee charged by any of those car parks is higher than the threshold amount. In doing this, monthly and annual rates can be used as a starting point and divided by the number of business days in the relevant period.