FBT Exemption For Electric Cars
The FBT concession does come with a few strings attached. The electric vehicle must be below the luxury car tax threshold (currently $84,916 for 2023 GST inclusive) The exemption only applies to cars held after 1 July 2022. An electric car is battery electric vehicle, a plug-in hybrid electric vehicle or a hydrogen fuel cell […]
Common COVID-19 Fringe Benefits Issues
The particular circumstances that coronavirus has thrown our way appear to have some practical outcomes on some regions of fringe benefits tax. One of the most common and well-established categories of fringe benefits is vehicle provision and use. For example, parking a car is a benefit that comes with particular conditions regarding the taxable values […]