Fringe Benefits Tax Commentary
With the Australian economy on the cusp of a digital revolution, there is a renewed focus on remuneration planning as the hunt amongst businesses for strategic talent and skillset in the employment market heats up. Employers will be faced with the challenging task of acquiring, retaining, motivating and protecting valued employees in this tumultuous business climate amid a dearth of high caliber candidates, therefore highlighting the role fringe benefits (and “innovation” around remuneration structures) can play in a business’s talent acquisition strategies. In the context of the Australian Taxation Office’s (ATO) increasing scrutiny on non-compliance with FBT legislation and lodgment requirements, it is imperative that taxpayers stay on top of the latest developments in the FBT landscape.
The FBT Commentary service continues to be a source of much needed clarity in the FBT landscape. The FBT Commentary service provides you with a complete guide to the current law, regulation and practice regarding the imposition and collection of FBT.
The service includes clear and concise commentary explaining how the law operates and the ATO’s views on aspects of the law. The commentary is supported by sections on tax audits and remuneration planning, relevant tax rates, key dates, forms and declarations, and the FBT legislation.
Available online via Checkpoint.
- Comprehensive reference service organised into areas that are aligned to the FBT legislation.
- Contains the Fringe Benefits Tax Assessment Act 1986 (and related legislation), which is cross-referenced to commentary in the FBT Commentary service for further in-depth reading.
- Two updates each year.
- Between updates, subscribers are kept up-to-date and informed about the latest developments in FBT on related laws, cases, rulings, determinations and announcements via the regular FBT Bulletin service that is provided two times each year.
There are two components to the service:
1. Legislation and commentary on the imposition and collection of FBT, supported by sections on tax audits, related rates, dates, forms and declarations and a guide on remuneration planning. Updated regularly. Available as a loose-leaf or online.
2. Bulletin service - print or email service with news about recent developments in the law, regulation and practice of FBT. Issued 3 p.a.
- Authoritative reference source providing a complete guide to the current law, regulation and practice of FBT
- Service includes;
- FBT legislation with links to relevant commentary, ensuring that explanations of what the law means and how it is put into practice is at the point the reader needs it most. No need to flick to a different area of the service for guidance;
- Easy access to relevant tax rates (both current and historical), key dates in the FBT year, FBT forms and declarations, supporting the legislation and commentary;
- a thorough understanding of the powers and procedures of the Tax Office when conducting an FBT audit;
- And for completeness, commentary on remuneration planning to help readers design valuable salary packages and appreciate the tax implications of including different types of benefits
- Readers are kept up to date with all FBT developments in statute, case law, rulings, determinations and announcements via the bulletins.