Is Car Parking and FBT frustrating for you?

With 2025 FBT reporting just around the corner, how are you going to assess your liability to FBT on car parking provided to your employees?
These are some of the most common mistakes with FBT and Car Parking that we see:
– not identifying all parking locations
– not undertaking a 1km radius survey
– assuming parking included in a business lease is not a fringe benefit
– paying FBT based on an early bird rate when lower daily rates are available
– counting the benefit days based on statutory 228 days and then reducing the 228 days by days the car space is not used
– not keeping usage records to reduce the FBT liability
Without doubt, the car parking FBT rules are complicated.
If you want to have a chat, I’m happy to share my insights and experience.