FBT Solutions

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Payment Summary


2013 FBT & Salary Packaging Essentials Seminars: Wednesday 9 October in Melbourne & Wednesday 16 October in Sydney – register online at:      http://tinyurl.com/ahzgehb



What is the total cost of a $1,100 taxable fringe benefit?

1.  FBT – $1,056
2.  Payroll Tax – $113 (average)
3.  Workers Compensation – $103 (estimate)
4.  Benefit acquisition (less GST) – $1,000

Total cost = $2,272 = no good for salary packaging!


ATO Get Serious on FBT

Current & Planned Audit activity

1.5,000 PAYG audits
2.400 audits – 34% outside FBT system
3.10,000 education letters – 3% registering for first time
4.Encourage voluntary disclosure
5.Tax agent focus

The future:

1.Cars 62% of revenue – increased data matching
2.FBT education with registration / glove box
3.A new form of FBT audit: Short & Sharp
4.Apply penalties more firmly
5.Falsified logbooks
6.LAFHA audits 12 months away