Important change for FBT on car parking

Employers are likely to have an increase in their fringe benefits tax liability on employees’ car parking spaces, writes Hayley Lock.

An Australian Taxation Office (ATO) public ruling is likely to cause many employers to have an increase in their fringe benefits tax liability on employees’ car parking spaces from 1 April 2022. The change in the ATO’s opinion will cause some employers to have an FBT liability on car parking for the first time. A car parking fringe benefit can only arise where the employee parks their car for at least four daytime hours in an employer-provided space in the vicinity of the principal workplac...

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Authors: Hayley Lock

Published Date: 17 June 2021