Your FBT questions answered.
After the highly successful FBT webinar, Hayley and Stacey have teamed up again. Watch them answer some of the biggest questions of the day that couldn’t fit into the session but were just too great not to answer. Stay informed as these two KPMG experts give you the tips to be on top of your FBT return.
By Hayley Lock and Stacey Biggar
1. Carparking
What is the definition of a commercial carparking station? How do we define someone’s primary place of employment when parking? What are the implications to carparking when workers haven’t been able to use employer-provided parks? How do we use the Market Valuation Method to evaluate the carparking benefit? Does FBT carparking apply to vehicles that aren’t cars? Hayley Lock and Stacey Biggar explain.
2. Cars and RFBS
If multiple people are using the same car, will they be liable for FBT? Hayley Lock explains the different scenarios.
3. Work related items
Do you need a statutory declaration by employees on the use of work-related item for it to be exempt from FBT? Do items gifted to an employee classify as FBT and how should different items be classified? Stacey Biggar breaks it down.
Up to 15% off ONESOURCE FBT Software
Save time, increase accuracy, collaborate better.
4. Under control of employees
How do you define when an employee is under your control? Hayley Lock explains the things to look for and the impact it can have on your FBT. Hayley Lock helps you avoid the snares.
5. COVID-19 Testing
How are COVID-19 protective items such as masks, handwash and air fresheners classified when considering fringe benefits? Stacey Biggar explains how exemptions could be applied in some cases.
6. Logbooks and prizes
What’s the impact on employee car benefits and logbooks when they’re impacted by COVID? What effects can prizes have to an employee’s income statements and your reporting?
7. Remote area benefits
How do we categorise workers that can be implicated with travel fringe benefits? What’s the difference between a rostered worker and someone living away from home? Hayley Lock sheds light on this.
Up to 15% off ONESOURCE FBT Software
Save time, increase accuracy, collaborate better.
Hayley Lock
Partner
KPMG Employment Tax Advisory
Hayley Lock leads the Specialist Tax & Reward practice in Queensland and has over 15 years’ experience both in commerce and within professional services providing advice on a range of employment taxation matters. Hayley has worked with some of Australia’s largest employers and is also a current member of the ATO's FBT sub-committee. In her work with her clients she has advised on all employment tax related matters including PAYG withholding and reporting, payroll tax, Superannuation Guarantee, Workers Compensation Insurances and fringe benefits tax.
Stacey Biggar
Senior Manager
KPMG Employment Tax Advisory
Stacey Biggar is a director in KPMG’s Employment Tax team with 11 years’ experience assisting with employments tax matters including fringe benefits tax, superannuation guarantee, payroll tax, pay as you go withholding and workers compensation. Stacey has assisted a large number of clients with full FBT outsourcing projects and has extensive experience assisting a variety of clients with identifying and implementing process improvements and management of employment tax related issues including risk reviews, preparation and submission of voluntary disclosures with revenue authorities and advising on changes to legislation and practical implications.
FBT Demo Video
Watch why Thomson Reuters ONESOURCE FBT is Australia's most complete and comprehensive Fringe Benefits Tax software solution. Used by more than 1,000 organisations in Australia including the BIG 4 accounting firms.