If you work for or own an Accounting or Professional Services Firms located in a Remote Area, then there is an opportunity to access the Remote Area concessions in the FBT Law.
However, one of the criteria is that it must be Customary in the Industry to provide the remote area benefits.
I’m interested in hearing from any Accounting Firms or Professional Services Firms that are located in a remote area. This might be an opportunity for your firms, but also for your clients.
Please feel free to email me: firstname.lastname@example.org or call me on 02 8216 0750 or 0403 050 358.
Removal and relocation expenses are those costs you incur to transfer or relocate for a work purpose. You can’t claim a deduction for removal or relocation costs. Even if relocating is a condition of your employment when you take up:
- a transfer in an existing employment
- new employment with a different employer.
Removal and relocation expenses never have a sufficient connection to earning your employment income or income producing activities. You incur these expenses to start earning employment income so they are private or domestic expenses.
However, Salary Packaging is a mechanism whereby you (the employee / individual) can claim a deduction for relocation expenses.
- The distinction between entertainment and sustenance, and application of exemptions such as the minor benefit exemption are the most common issues encountered with respect to entertainment
- Many employers are uncertain as to what is considered to be infrequent and irregular, and what is a reasonable total value of associated benefits, incurring high cost of compliance
- The ATO acknowledge the above concerns and recognise there are challenges
These are key areas in FBT Compliance and will be discussed in our 2023 FBT Workshops: https://fbtsolutions.com.au/fbt-return-preparation-full-day-workshops/
To help you get ready for FBT 2023 we are running 8 full day Face to Face FBT Workshops and 2 full day Online Workshops across the country in February and March 2023. Here is the full list of locations and dates:
ONLINE: Tuesday 21 February 2023
Sydney: Wednesday 1 March 2023, Hilton Hotel – 488 George Street
Parramatta: Friday 3 March 2023, Novotel – 350 Church Street
Canberra: Thursday 9 March 2023, Novotel – 65 Northbourne Ave
Brisbane: Tuesday 14 March 2023, Hilton Hotel – 190 Elizabeth Street
Melbourne: Thursday 16 March 2023 Marriott Hotel – Corner Exhibition &, Lonsdale Streets
Perth: Tuesday 21 March 2023, Parmelia Hilton Hotel – 14 Mill Street
Adelaide: Thursday 23 March 2023, Hilton Hotel – 233 Victoria Square
Sydney: Tuesday 28 March 2023, Hilton Hotel – 488 George Street
ONLINE: Thursday 30 March 2023