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Employers, don’t be the car parking fool come 1 April 2020

Hayley Lock and James Trainor discuss Draft Taxation Ruling TR 2019/D5, released by the ATO.

Employers who provide car parking spaces for their staff, but do not currently pay fringe benefits tax (FBT) on this benefit, should immediately assess whether they would be impacted by a prospective change in the Australian Taxation Office’s (ATO) interpretation of the FBT legislation. The ATO sets out the proposed change in Draft Taxation Ruling TR 2019/D5, which is open for public consultation until 17 January 2020.The key feature of the Draft Ruling is that from 1 April 2020, the ATO...

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Authors: Hayley Lock, James Trainor

Published Date: 14 November 2019

 

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