Taxis and ride-shares to share tax exemption

Exposure draft legislation has been released to amend the FBT definition of taxi travel.

The Fringe Benefits Tax (FBT) exemption for taxi travel beginning or ending at the employee’s place of work will be extended to ride sharing operators, under legislation proposed by the Federal Government.Treasury has invited submissions on the draft legislation which, if enacted, will apply to fringe benefits provided from when the law receives Royal Assent.It follows an update by the Australian Taxation Office (ATO) in July which confirmed ride-sharing services are not taxis for the purpose...

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Authors: David Sofrà, James Trainor

Published Date: 10 September 2019