Updates – December 2015

The just-finished 2015 parliamentary sessions have been busy, and so have we. Although the year is by no means finished yet (the 2015 MYEFO is due mid-December), we’re grabbing a pause for a round-up of some of the more significant recent developments and site content updates. The government is intending to give the Commissioner of Taxation the power to … Read more

FBT Determinations for 2015-16

FBT Determinations updates for 2015-16 year

Determinations updates for the FBT year commencing on 1 April 2015 and ending 31 March 2016 released today include the Reasonable Food and Drinks for LAFHA, Benchmark interest rate, Record Keeping Threshold, Km rates for non-cars and Non Remote Housing Indexation. TD 2015/4  The indexation factors for valuing non remote housing for the purposes of section 28 of the … Read more

Categories FBT

Tax Determinations for FBT – indexation updates 26 March 2014

The ATO has today released a number of annual indexation updates in the following Fringe Benefits Tax Determinations:

Indexation for valuing non-remote housing

TD 2014/3 Fringe benefits tax: for the purposes of section 28 of the Fringe Benefits Tax Assessment Act 1986, Indexation factors for valuing non-remote housing for the fringe benefits tax year commencing on 1 April 2014. See FBT Housing Fringe Benefits

FBT record-keeping exemption threshold

TD 2014/4 Fringe benefits tax: for the purposes of section 135C of the Fringe Benefits Tax Assessment Act 1986, – Record-keeping exemption threshold for the fringe benefits tax year commencing on 1 April 2014. See FBT Exemption Threshold

Benchmark interest rate for loan fringe benefits

TD 2014/5 Fringe benefits tax: Benchmark interest rate to be used for the fringe benefits tax year commencing on 1 April 2014. See FBT Benchmark Interest Rate

Cents per Km for vehicles other than cars

TD 2014/6 Fringe benefits tax: Rates to be applied on a cents per kilometre basis for calculating the taxable value of a fringe benefit arising from the private use of a motor vehicle other than a car for the fringe benefits tax year commencing on 1 April 2014. See FBT Cents Per Kilometre For Vehicle Other Than A Car