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N – Car parking

Last updated 15 May 2014

A car parking fringe benefit may arise for each day on which an employer provides a car parking space for use by an employee.

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Car parking fringe benefits

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Start of example

Example: Calculate car parking fringe benefits

An employer has 10 parking spaces under their city building for employees to use for the FBT year. The car parking fringe benefits are valued at $20,000. The employees have not made any contributions during the year.

The employer shows this at item 23 as follows:

39720_23

End of example

QC39720