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Hot Issues
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How's Australia going as we approach the election?
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Single Touch Payroll (STP) is compulsory for all small businesses.
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Federal Budget 2019 - Overview
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How the 2019 Federal Budget affects you
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FBT Reminder – Odometer Reading
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‘Big awareness push’ underway as STP deadline approaches
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The problem with getting to 53 years of age.
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Lost Beneficiaries
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Some Australian figures to help on Budget night.
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Resources to help understand and implement Single Touch Payroll (STP)
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Big fines, prison on the cards as new SG penalties introduced
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Article archive
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Quarter 1 January - March 2019
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Quarter 4 October - December 2018
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Quarter 3 July - September 2018
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Quarter 2 April - June 2018
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Quarter 1 January - March 2018
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Quarter 4 October - December 2017
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Quarter 3 July - September 2017
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Quarter 2 April - June 2017
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Quarter 1 January - March 2017
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Quarter 4 October - December 2016
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Quarter 3 July - September 2016
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Quarter 2 April - June 2016
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Quarter 1 January - March 2016
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Quarter 4 October - December 2015
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Quarter 3 July - September 2015
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Quarter 2 April - June 2015
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Quarter 1 January - March 2015
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Quarter 4 October - December 2014
FBT Reminder – Odometer Reading

Anybody who has a Fringe Benefits Tax obligation should take an odometer reading of motor vehicles.

       

 

This reading is one of the annual requirements of the logbook method of fringe benefits calculations for the Fringe Benefits Tax period ending 31st March 2019.

If you are not sure if you have an obligation, it will only take a few minutes, so just do it!

Remember also that there are quite a few types of FBT and that FBT law includes various categories of fringe benefits and specific valuation rules for each category. The list below outlines what needs to be considered.

You will need to pay FBT even if the benefit is provided to an associate of your employee or by a third party under an arrangement with you.

Benefits that attract FBT are:

  • Car fringe benefits
  • Car parking fringe benefits
  • Entertainment and fringe benefits
  • Expense payment fringe benefits
  • Loan fringe benefits
  • Debt waiver fringe benefits
  • Housing fringe benefits
  • Board fringe benefits
  • Living away from home allowance fringe benefits
  • Property fringe benefits (including property, goods or shares)
  • Residual fringe benefits (benefits not covered by the above categories)

 

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