Avoid a car parking surprise this FBT season - check your locations today

There are three methods available to calculate the number of car parking fringe benefits that arise and three methods available to calculate the value of these parks, as outlined by Hayley Lock, Stacey Biggar and Sam Gathercole.

The Australian Taxation Office (ATO) released TR 2021/2 in June 2021, which expanded the Commissioner’s view on the types of car parks that are considered “commercial parking stations”. In accordance with the updated view discussed in this earlier article, from 1 April 2022, car parks charging penalty rates for all-day parking could no longer be ignored when determining whether a commercial parking station charged a fee over the daily car parking threshold ($9.72 for the year ending 31 March...

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Authors: Hayley Lock, Stacey Biggar,

Published Date: 20 October 2022