The Chair opened the meeting with an Acknowledgment of Country.
Electric vehicles (EV) fact sheet
Minor updates are being considered for the EV fact sheet to provide further guidance regarding transitional issues at 1 July 2022.
A stocktake was completed, highlighting that most of the issues under this program of work item have been addressed.
The ATO advised this broad work item will be closed, and a new work item will be created to consider the remaining issues around private vehicles charged on work premises and bi-directional charging.
Draft Practical Compliance Guideline PCG 2023/D1
Feedback and submissions are being considered with an aim to publish as soon as possible.
The ATO advised that stage 1 of the update to chapter 16 of the Fringe Benefits Tax - a guide for employers is close to being finalised with further guidance added to ensure consistency with Taxation Ruling TR 2021/2. These updates relate to:
- when a carpark is provided in respect of employment
- the definition of commercial parking station.
Stage 2 of the update which covers the ATO view on the ‘members of the public’ issue, is currently on hold.
Modification to the carrying capacity of vehicles
A submission was made regarding the issue of modifications to a vehicle's load carrying capacity. It was agreed the issue warrants inclusion on the program of work register.
The ATO will review the issue and update the group at the next meeting.
The ATO is working to publish tranche 3 of the fringe benefits tax (FBT) alternative record keeping measure for consultation in September.
Kelly Norwood, Acting Assistant Commissioner Small Business, provided an update of the ATO plan to improve small business tax performance.
Key focus areas included:
- streamlining the tax experience
- putting assurance into natural systems
- providing guidance in digital tools
- leveraging existing tools.
- A need for greater visibility for FBT compliance.
- Provision of ongoing education and support for clients to engage with the FBT system
- Current software is complex and challenging to use.