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Record Keeping

The new ATO Position in respect of travel diaries:

  1. The employer guide on the ATO website has been amended
  2. The employer must have a travel expense policy that is subject to a consistently enforced prohibition on private use
  3. The requirement to obtain a travel diary will be waived
  4. Employer to complete an annual ‘no private use declaration‘
  5. Such a declaration would state that the benefits were provided only for employment related purposes and that there was no private portion.

Covering meal entertainment, travel expenses, food & drink costs, local & overseas travel allowances

Designed for Finance, Accounts Payable, HR, Payroll and Tax personnel

Helping you to be compliant, minimise FBT liabilities, maximise GST claims and Income Tax deductions, and improve your processes

FBT Solutions is delighted to offer you the opportunity to attend a half day training seminar that will explain the rules to do with employee expenses, food & drink, entertainment and travel expenses

Details coming soon….

The FBT Law requires employers to keep records that identify and explain all transactions and acts that are relevant to establish their FBT liability.

Importantly, the requirements extend to what’s not in the FBT return.

So if you decide to not include a benefit on the basis that it is exempt or for some other reason, you will need to document your reasoning and calculations (if relevant) to demonstrate your position taken.