Time to start thinking about travel again - at least in an FBT context

In part one of this series, Hayley Lock, Andy Larmour and Stephanie Renshaw discuss taxation ruling (TR) 2021/1, the finalised ruling on employees’ transport expenses.

While personal travel might be just a distant memory or pipe dream for many of us at the moment, some recent releases from the Australian Taxation Office (ATO) mean there is new advice and guidance on the tax treatment of expenditure on employee travel to consider. What’s happened? Last week, the ATO released three separate documents: TR 2021/1 Income tax: when are deductions allowed for employees’ transport expenses? TR 2021/D1 Income tax and fringe benefits tax: employees: accommo...

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Authors: Hayley Lock, Andrew Larmour,

Published Date: 23 February 2021