Just 43 days until you could have a car parking FBT liability

Hayley Lock and George Cressey outline why employers should review their car parking arrangements as a matter of priority.

In June last year the Australian Taxation Office (ATO) released refreshed guidance on fringe benefits tax (FBT) and car parking (TR 2021/2). This new ruling replaces TR 96/26 which had been in place for almost 25 years. The majority of the new ruling is uncontentious, however there are a few key areas that all employers who provide car parking to their staff should be aware of. More car parks trigger FBT than before For a car parking fringe benefit to arise a number of conditions must be ...

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Authors: Hayley Lock, George Cressey

Published Date: 17 February 2022