Better understand your fringe benefits tax (FBT) compliance requirements and gain an understanding of how to make FBT work for you in this series of practical workshops or learning manuals:
- FBT fundamentals
- cars and car parking
- entertainment
- smart solutions for salary packaging
- relocation of employees and living away from home allowance (LAFHA)
Topic one – FBT fundamentals
Understand how and why FBT was introduced, what the different sections of the legislation mean and how to perform the calculations.
- determine whether a benefit has been provided
- determine the taxable value of fringe benefits
- calculate FBT payable
- calculate individual reportable fringe benefits amounts
- state the requirements for reporting and paying fringe benefits tax
Topic two – cars and car parking
Discover the different methods for calculating the benefits in cars and car parking. Covering the definition of benefits, calculations, taxable values, statutory formula and operating cost methods and other applicable benefits, you’ll find this practical session highly worthwhile:
- determine whether a car benefit has been provided
- calculate the taxable value of car fringe benefits
- determine if a car parking fringe benefit has been provided
- calculate the taxable value of a car parking fringe benefit
- determine when a car parking fringe benefit is provided
- determine which car parking fringe benefits are exempt
- calculate the taxable value of car parking fringe benefits using the commercial parking station method, the market valuation method or the average cost method
- calculate the number of car parking fringe benefits using the 12-week register method or the statutory formula method
Topic three – entertainment
Learn different methods for calculating benefits in entertainment. You’ll examine a matrix of tax treatment for entertainment expenses and examples of other taxable benefits. This session will include the definition of benefits, calculations, taxable values, statutory formula and operating cost methods, exemptions and other applicable benefits:
- identify what constitutes entertainment for income tax purposes
- identify what constitutes meal entertainment for FBT purposes
- calculate the taxable value of meal entertainment and other entertainment benefits
- understand the income tax deductibility and GST credits available for entertainment
Topic four – smart solutions for salary packaging
Learn what benefits you can include in an employee’s remuneration package, how the ATO approaches the issue, payroll tax and WorkCover legislation, leased cars and bonuses.
- state what benefits are best to include in a package
- describe the benefit of packaging items if the employer is exempt or rebatable
- state the benefits of salary packaging
Topic five – relocation and LAFHA
This under-used area of FBT focuses on the relocation of employees and LAFHA. It covers all the "usual place of residence" issues you need to consider, as well as what’s exempt and what’s not under FBT when an employee actually moves to a new residence. This session will also cover the difference between travel and "living away from home" overseas postings and expatriate employees, transport and reducing the taxable value:
- determine whether an employee is living away from their usual place of residence, is travelling away from their usual place of residence or has changed their usual place of residence
- determine whether a LAFHA has been provided
- state the exemptions and reductions in taxable value that apply when an employee is relocated
Note: Workshop five is only available in Melbourne and Sydney. A learning manual is available for purchase.
Fringe benefits tax – Learning manuals (set of five)
If you are unable to attend the workshops, this set of learning manuals reflects their content:
- FBT fundamentals
- cars and car parking
- entertainment
- smart solutions for salary packaging
- relocation of employees and LAFHA
Technical (Competent)
Technical (Proficient)