Blind spot: ATO seeks out employers providing car fringe benefits

With the latest data indicating there is $1 billion FBT tax gap, the ATO is increasing efforts to educate employers, as discussed by Hayley Lock.

The Australian Taxation Office (ATO) is rolling-out a fringe benefits tax (FBT) advertising campaign, in an attempt to further reduce the associated tax gap. The campaign is likely targeting those businesses who may not be aware of their obligations to register for FBT. In the 2017-18 financial year, the ATO estimated there was a $1.04 billion FBT gap – that is, total unpaid FBT liabilities. This equates to a 21 percent FBT gap. The FBT gap is falling however. It was as high as $1.6 billi...

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Authors: Hayley Lock

Published Date: 27 April 2021