FBT 2020: Car Parking – New Rules & ATO Compliance Activity
The ATO have signalled significant reform of the FBT car parking rules, together with increased FBT audit and compliance focus.
This webinar will provide a detailed analysis of the new and existing FBT rules as they apply to car parking including alternate valuation methodologies and application of the concessions and exemptions.
In this webinar we will focus on the key FBT rules, areas of risk for car parking, and ways to reduce an employer’s FBT cost.
We will cover the current areas of ATO concern and consultation including the definition of a commercial parking station, the new car parking operators causing disruption and car parking market valuation. Attendees will be given an understanding of the key areas to focus on for managing FBT, planning strategies and policy implementation. Paul will highlight the common errors and dispel the many myths.
The FBT car parking rules are complex and require careful consideration to ensure compliance and to maximise savings. This webinar will provide you with a clear understanding of the rules governing car parking fringe benefits, the steps required to ensure compliance and strategies to minimise FBT liabilities.
Webinar Learning Outcomes:
- A clear understanding of how to determine if an FBT liability for employer provided car parking exists;
- The new ATO ruling and the detailed guidance contained in the revised Chapter 16 Employer Guide;
- The ATO issue with market valuation method;
- Recent ATO audit activity on car parking;
- A process for identifying if taxable car parking is provided;
- A detailed explanation of the 3 methods available for counting the number of car parking benefits;
- A detailed explanation of the 3 methods available for valuing car parking benefits;
- Key solutions for minimizing FBT liabilities; and
- Common errors and dispelling the many myths associated with car parking & FBT.
This webinar is suited to those in practice or corporate roles, from beginners to advanced. As well as anyone involved in FBT reporting for car parking or those tasked with managing motor vehicles & employee parking from an operational or policy perspective. including:
- Tax agents and tax advisors
- Accountants in Public Practice
- Tax Accountants
- HR Personnel (from officers to General HR Managers)
- Payroll Accountants
- Payroll Managers and their teams
- Finance Managers
- Financial Accountants
- Management Accountants
- Tax Managers
- Fleet Managers
- Salary Packaging Managers
Paul Mather, Founder and Director of FBT Salary Packaging Solutions has over 20 years hands-on, Salary Packaging and FBT experience. Paul is a current member of the ATO’s FBT Working Group and the ATO’s Small Business Liaison Group. Paul was a member of the former Australian Taxation Office National Tax Liaison Group (NTLG) Fringe Benefits Tax Subcommittee from 2005 to 2013. An accomplished trainer and speaker, Paul delivers his topic in a practical and insightful manner.
You will be provided with:
- PowerPoint presentation slide deck
- Supporting documentation
- Webinar Recording to view multiple times for up to 6 months
- Q&A Session and the presenters contact details for follow up questions