Fringe Benefits Tax 2010- Get it right, do it faster
FBT Reporting - Gain Accuracy and Eliminiate the non-Compliance Risks
- ATO finds errors in 7 of every 10 returns queried
- Compliance activities result in average additional liability of $77,000 plus interest of $19,000
- ATO is now widening their audit net, especially for cars
- FBT is now part of employer obligation reviews
- Income tax and GST auditors now examine FBT issues as well
Salary Packaging & FBT - The FBT Legislation is Complex. Get on Top of your Obligations
- 6 rates and thresholds change each year
- 13 categories of benefit
- 28 valuation methods for those categories
- Over 70 exemptions, reductions or concessions in the FBT legislation
- Over 300 public rulings and determinations on FBT issued by the ATO to clarify the law
- Over 700 private rulings on FBT have been issued since 2001
