Administering car fringe benefits in COVID-19-era

Hayley Lock and Stacey Biggar discuss the ATO’s factsheet for employers titled ‘COVID-19 and car fringe benefits’.

The Australian Taxation Office (ATO) has issued a new fact sheet for employers in which it provides an overview of how it will administer the fringe benefits tax (FBT) legislation where the circumstances in which an employer provides a car fringe benefit have been affected by COVID-19.The ATO emphasises that if the employer is using the statutory formula method to calculate the taxable value of the car fringe benefit, then a taxable benefit will generally arise on each day where the car is ga...

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Authors: Hayley Lock, Stacey Biggar

Published Date: 21 August 2020