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  • Proposed changes to fringe benefits tax record-keeping

    The government has proposed that it will provide the Commissioner of Taxation with the power to allow employers to rely on alternative records, such as existing corporate records where adequate to finalise their fringe benefits tax (FBT) returns. This would be an alternative to employee declarations and other prescribed records.

    If enacted the change will have effect from the start of the first FBT year (1 April) after the date of royal assent of the legislation, which cannot be earlier than 1 April 2021.

    See also:

    Last modified: 01 Dec 2020QC 64232