FBT 2020: Cars, Car Parking and Exemptions

Description

A detailed analysis of the FBT rules as they apply to motor vehicles and car parking including alternate valuation methodologies and application of the concessions and exemptions.

In this webinar we will focus on the key FBT rules, areas of risk for motor vehicles, and ways to reduce an employer’s FBT cost.
We will cover the current areas of ATO concern and consultation including safe harbor rules for logbook, pooled cars, claiming exemption and car parking market valuation. Attendees will be given an understanding of the key areas to focus on for managing FBT, fleet planning strategies and policy implementation. Paul will highlight the common errors and dispel the many myths.

The FBT car parking rules are complex and require careful consideration to ensure compliance and to maximise savings.

This webinar will provide you with a clear understanding of the rules governing car parking fringe benefits, the steps required to ensure compliance and strategies to minimise FBT liabilities.

Webinar Learning Outcomes:
In relation to cars, attendees will be provided with:

  1. A clear understanding of the FBT implications for Novated Leases, Operating Leases and Associate Leases;
  2. A clear understanding of the current motor vehicle FBT rules as they apply to cars, pooled vehicles, utility vehicles and tool of trade vehicles – both under 1 tonne and over 1 tonne;
  3. Particular focus on the new safe harbour rules as announced in PCG 2018/3;
  4. An analysis of the statutory formula method and operating cost method;
  5. An explanation of the requirements for a valid logbook;
  6. Logbooks, who’s at risk and why;
  7. Analysis of the current areas of ATO audit focus; and
  8. A summary of the common errors and dispel the many myths.

In relation to car parking, attendees will be provided with:

  1. A clear understanding of how to determine if an FBT liability for employer provided car parking exists;
  2. A process for identifying if taxable car parking is provided;
  3. A detailed explanation of the 3 methods available for counting the number of car parking benefits;
  4. A detailed explanation of the 3 methods available for valuing car parking benefits;
  5. Key solutions for minimizing FBT liabilities;
  6. The ATO issue with market valuation method;
  7. The ATO’s current reform agenda on car parking and rewrite of Taxation Ruling 96/26; and
    8. Common errors and dispelling the many myths associated with car parking & FBT.

Suited to:
Those in practice or corporate roles, from beginners to advanced. Also to anyone involved in FBT reporting or managing fleet / car, or those tasked with managing motor vehicles & employee parking from an operational or policy perspective. including:

  • Tax agents and tax advisors
  • Accountants in Public Practice
  • Tax Accountants
  • HR Personnel (from officers to General HR Managers)
  • Payroll Accountants
  • Payroll Managers and their teams
  • Finance Managers
  • Financial Accountants
  • Management Accountants
  • Tax Managers
  • Fleet Managers
  • Salary Packaging Managers

Presenter Bio:
Paul Mather, Founder and Director of FBT Salary Packaging Solutions has over 20 years hands-on, Salary Packaging and FBT experience. Paul is a current member of the ATO’s FBT Working Group and the ATO’s Small Business Liaison Group. Paul was a member of the former Australian Taxation Office National Tax Liaison Group (NTLG) Fringe Benefits Tax Subcommittee from 2005 to 2013. An accomplished trainer and speaker, Paul delivers his topic in a practical and insightful manner.

You will be provided with: 
• PowerPoint presentation slide deck 
• Supporting documentation 
• Webinar Recording to view multiple times for up to 6 months 
• Q&A Session and the presenters contact details for follow up questions

  • Mar 11
    Wed, 1:00 PM AEDT - 2:30 PM AEDT Online
    • $220.00 incl. GST
    • PD hours: 1.5

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One-Connection-One-Fee

Our webinars operate on a 'one-connection-one-fee' basis so you can have your whole team participate for one cost effective price and claim CPD points.

Recordings

Like the topic but can’t make the time? Register for the Live Session and you’ll receive the Recording regardless! You can watch it as many times as you like for up to 6 months. You will also receive Supporting Documentation.