Motor+Vehicle+FBT+Calculation

compare salary package with motor vehicle FBT and the cash salary

https://atotaxrates.info/businesses/fringe-benefits-tax/car-fringe-benefits/

Calculation of FBT on cars
There are three possible ways to calculate FBT on cars. The “best” method, i.e. the method with potentially lowest FBT impact, will depend primarily on the cost of the vehicle, extent of private use, and the availability of substantiating records. The possible methods are:
 * 1) Operating Cost Method
 * 2) Statutory Formula Method
 * 3) Expense Reimbursements (i.e. Expense Payment Fringe Benefit )

=FBT- Statutory Formula Method = https://atotaxrates.info/businesses/fringe-benefits-tax/car-fringe-benefits/fbt-statutory-formula-method/ The statutory formula method of valuing a car fringe benefit can deliver an advantage because the FBT tax calculations are arbitrary, and not necessarily reflective of the actual value of the car benefit. Recent amendments to the formula have sought to diminish this advantage, which typically arises in relation to a vehicle with high kilometres travelled in the FBT year. The statutory formula is based on: The formula: Taxable value = [ Cost of Car x **Statutory Rate*** x Days Private Use] ÷ 365
 * cost of motor vehicle
 * date of purchase
 * distance travelled (taken from odometer readings at the beginning and end of the year)
 * number of days of private use
 * employee contributions (if any)

– Minus Employee Contributions

<span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 2.8rem;">Cost of the car
<span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">The cost for formula purposes includes dealer delivery charges, GST and any customs duty paid on the motor vehicle. <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">Not included are registration, stamp duty and extended warranty costs. <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">See further Tax Office guidance on the calculation of ‘Cost Price’: TR 2011/3 Fringe benefits tax: meaning of ‘cost price’ of a car, for the purpose of calculating the taxable value of car fringe benefits <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">The cost – base value – of the car is reduced by one third after it has been owned or leased for four years, determined at the commencement of the FBT year.

<span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">example for operating cost method for FBT



@How to calculate the taxable value of a car fringe benefit

Deemed Depreciation Rate http://www.tved.net.au/index.cfm?SimpleDisplay=PaperDisplay.cfm&PaperDisplay=http://www.tved.net.au/PublicPapers/September_2009,_Tax_Basics,_Tax_Basics___Program_38___Fringe_Benefits___Company_Cars___The_Alternatives.html

**__4. Valuation of car benefits – operating cost method__**  The taxable value of a car benefit under this method is calculated using the following formula:   **(C x (100% - BP)) – R**   Where:   C = the operating costs of the car   BP = the business use percentage   R = the amount of any recipient’s payment   **Operating costs**   The following table sets out the components of a car’s running costs: If the employee incurs the above expenses and is not reimbursed, then include such expenses both as operating costs and as a recipient’s payment. || Car expenses (only if they do not form part of the lease payments) such as: If the employee incurs the above expenses and is not reimbursed, then include such expenses both as operating costs and as a recipient’s payment. || **Deemed depreciation**   Depreciation is calculated on a diminishing value basis and the current rates are as follows:
 * **Employer owned car** ||  **Leased car**  ||
 * Car expenses incurred by the employer such as:
 * Registration
 * Insurance
 * Repairs and maintenance (if not paid by an insurance company)
 * Fuel
 * Registration
 * Insurance
 * Repair and maintenance (if not paid by an insurance company)
 * Fuel
 * Deemed depreciation (see below) ||  Lease payments  ||
 * Deemed interest (see below) ||   ||
 * Do not include car parking fees, bridge and road tolls ||  Do not include car parking fees, bridge and road tolls  ||
 * **Date car purchased** ||  **FBT year ending**

**31 March 2008**

**(previous rates)** ||  **FBT year ending**

**31 March 2009**

**and future years**

**(current rates)** || For cars held only part of a year, the annual depreciation amount is reduced accordingly. For these purposes, the luxury car limit is irrelevant, ie. depreciation is calculated on the full cost of the car.
 * Up to and including 30 June 2002 ||  22.5%  ||  22.5%  ||
 * From 1 July 2002 to 9 May 2006 ||  18.75%  ||  18.75%  ||
 * On or after 10 May 2006 ||  18.75%  ||  25%  ||

<span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 2.8rem;">Statutory Rates
<span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">The statutory rate is determined by the distance travelled by the vehicle during the tax year. <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">Percentages were changed with effect from 10 May 2011 to phase in a flat rate of 20% over 4 years. Contracts which existed at that date continued to receive the benefit of the old (more generous to high distance) rates. <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">The statutory percentages for commitments entered into __after 7.30pm AESTon 10 May 2011__: <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">The statutory percentages for commitments entered into __up to 7.30pm on 10 May 2011__ are:
 * ** Total Kms – FBT year ** ||||||||= ** Statutory Percentage ** ||
 * ^  ||||||||= ** New contracts after 7.30pm, 10 May 2011 ** ||
 * ^  ||= ** From 10 May 2011 ** ||= ** From 1 April 2012 ** ||= ** From 1 April 2013 ** ||= ** From 1 April 2014 ** ||
 * 0- 14,999 ||= 20% ||= 20% ||= 20% ||= 20% ||
 * 15,000 – 24,999 ||= 20% ||= 20% ||= 20% ||= 20% ||
 * 25,000 – 40,000 ||= 14% ||= 17% ||= 20% ||= 20% ||
 * Over 40,000 ||= 10% ||= 13% ||= 17% ||= 20% ||
 * **Total kms travelled in FBT year** ||= **Statutory %** ||
 * 0 – 14,999 ||= 26% ||
 * 15,000 – 24,999 ||= 20% ||
 * 25,000 – 40,000 ||= 11% ||
 * Over 40,000 ||= 7% ||
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">Where a car hasn’t been held for the full year, the kilometres are annualised for the purpose of determining the applicable statutory fraction, based on the days held (not just the days available for private use).
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">Employee contributions are comprised of unreimbursed after-tax contributions made by the employee to the employer which can also be given effect to by journal entry (see MT 2050 ). Such contributions are considered a taxable supply and require the employer to account for 1/11 of the amount as GST.
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">Employee contributions may also comprise a declaration (in approved format) of fuel and oil costs and substantiated (i.e. normally receipts) of other car expenses. Such payments are normally **GST inclusive** and are not a taxable supply.
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">Where a car is provided by an employer to an employee (including lease-back arrangements) the employee cannot claim deductions for business use

<span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 2.8rem;">Further information:
https://atotaxrates.info/businesses/fringe-benefits-tax/car-fringe-benefits/fbt-operating-cost-method/ =<span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 3.8rem;">FBT – Operating Cost Method =

<span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">The Operating Cost Method of calculating FBT on cars, is based on a log book record of travel which establishes the business percentage of motor vehicle expenses. <span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;"> The log book must be maintained for a continuous period of at least 12 weeks. Unless circumstances materially change, the same log book may be relied upon for 5 years before another 12-week period must be recorded. <span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;"> Car expenses include: <span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">Employee contributions to expenses from after-tax income are deducted.
 * <span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">petrol and repairs
 * <span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">registration
 * <span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">insurances
 * <span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">depreciation
 * <span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;"> imputed interest (if the car is owned)
 * <span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">lease costs (if the car is leased)

<span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 2.8rem;">Operating cost formula for calculating the FBT value of a car fringe benefit:
<span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">Taxable value = [Total Vehicle Costs x Private Use Percentage ] – minus Employee Contributions <span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;"> Total Vehicle Costs include deemed depreciation and interest as below.

<span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 2.8rem;">Depreciation
<span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">From 1 April 2008, the depreciation rate for cars acquired on or after 10 May 2006 is 25%. <span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;"> Rates for earlier years are as follows:
 * ** Date Car Purchased ** || ** Percentage Depreciation ** ||
 * 1 April 2008 to 30 June 2002 ||= 22.50% ||
 * 1 July 2002 to 9 May 2006 ||= 18.75% ||
 * From 10 May 2006 ||= 25.00% ||
 * <span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">The cost for depreciation purposes is not subject to the luxury car cost limits.
 * <span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">Depreciation is required to be calculated on a diminishing value basis.

<span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 2.8rem;">Imputed Interest
<span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">Where loan interest is part of the operating costs of a car, the actual interest costs are ignored, and substituted by a deemed rate of interest which is adjusted and advised by the Tax Office annually in a Tax Determination. <span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;"> **(see the current FBT Benchmark Interest Rate here )**

<span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 2.8rem;">Employee Contributions

 * <span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">Employee contributions are comprised of unreimbursed after-tax contributions made by the employee to the employer which can also be given effect to by journal entry (see ruling MT 2050 ). Such contributions are considered a taxable supply and require the employer to account for 1/11 of the amount as GST.
 * <span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">Employee contributions may also comprise a declaration (in approved format) of fuel and oil costs and substantiated records (i.e. normally receipts) of other car expenses. Such payments are normally GST inclusive and are not a taxable supply.

<span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 2.8rem;">Further information:

 * <span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">Australian Taxation Office – Operating Cost Method
 * <span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">ATO – Fringe Benefits Tax Car Calculator

<span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">// This page was last modified on 5 August 2015 //

FBT Rate
https://atotaxrates.info/businesses/fringe-benefits-tax/ <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">Fringe Benefits Tax is applied annually on the calculated grossed up net value of benefits provided, at a rate equivalent to the top marginal rate of income tax including medicare levy.
 * **FBT Year ending** ||= **FBT rate** ||= **Type 1 Gross-up Rate** ||= **Type 2 Gross-up Rate** ||
 * 31 March 2018 & ongoing ||= 47% ||= 2.0802 ||= 1.8868 ||
 * 31 March 2017 ||= 49% ||= 2.1463 ||= 1.9608 ||
 * 31 March 2016 ||= 49% ||= 2.1463 ||= 1.9608 ||
 * 31 March 2015 ||= 47% ||= 2.0802 ||= 1.8868 ||
 * 31 March 2014 ||= 46.5% ||= 2.0647 ||= 1.8692 ||

https://atotaxrates.info/businesses/fringe-benefits-tax/entertainment-fringe-benefits-tax/

<span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 2.8rem;">Entertainment Fringe Benefits
<span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">For FBT purposes “entertainment” includes Update - Cap on packaged entertainment In a 2015 Federal Budget measure which targets Not For Profits, from 1 April 2016 a grossed-up cap of $5,000 will apply to the amount of salary-sacrificed ‘meal entertainment’ and ‘entertainment facility leasing expenses’ which qualify for the FBT exemption or the rebate (depending on the type of employer). Any excess to be counted in calculating the existing FBT exemption or rebate cap, and all salary packaged entertainment benefits will become reportable. //See further:// ===<span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 2.8rem;">Examples === <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">Common examples of taxable entertainment fringe benefits provided by the [|Tax Office] include:
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">entertainment by way of food, drink or recreation
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">accommodation or travel in connection with, or to facilitate the provision of, such entertainment.
 * <span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;"> Enabling legislation – passed 25 November 2015
 * <span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">‘New restrictions on entertainment salary packaging’ – Grant Thornton Australia
 * <span style="color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">ATO – Salary packaged meal and other entertainment benefits
 * Tax-exempt Body Entertainment Fringe Benefits
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">business lunches and drinks, cocktail parties and staff social functions
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">providing entertainment to employees and clients by providing access to sporting or theatrical events, sightseeing tours, holidays and so on
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">accommodation and travel when it is provided in connection with, or to facilitate, activities such as entertaining clients and employees over a weekend at a tourist resort, or providing them with a holiday.

<span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 2.8rem;">Is it Entertainment? – Tax Ruling TR 97/17
<span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">The ruling outlines a series of tests which are summarised in the following table. Not all factors have equal significance – please read TR 97/17 for full context and see further references and checklists at the foot of this page. This is a simplified summary for general guidance and cannot be relied on as the basis of a decision. <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">See TR 97/17 – “Income tax and fringe benefits tax: entertainment by way of food or drink”
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">see also – Entertainment facility leasing
 * = **TR 97/17 – Is it entertainment?** ||
 * **__What__ food and drink is provided?** ||= ** More or less likely to be “entertainment” ** ||
 * A multi-course meal with alcohol ||= More likely ||
 * Sandwiches and juice ||= Less likely ||
 * **__Where__ is it provided?** ||= ** More or less likely to be “entertainment” ** ||
 * Off the business’s premises ||= More likely ||
 * On the business’s premises ||= Less likely ||
 * **__When__ is it provided?** ||= ** More or less likely to be “entertainment” ** ||
 * Outside business hours ||= More likely ||
 * Within business hours ||= Less likely ||
 * **__Why__ is it provided?** ||= ** More or less likely to be “entertainment” ** ||
 * An entertainment or social purpose ||= More likely ||
 * An incidental business purpose ||= Less likely ||

<span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 2.8rem;">Exclusions
<span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">Common exclusions or exemptions to FBT on entertainment include:
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">entertainment provided to clients (not subject to FBT, but not tax deductible either)
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">food and/or drink for current employees on your business premises on a working day are exempt property benefits (see more here.. ) – and see also Tax Ruling IT 2625 //“Income tax and fringe benefits tax: entertainment – morning and afternoon teas; light meals; and in-house dining facilities”//
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">minor entertainment less than $300 (incl. GST) per employee (see here )
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">Meal entertainment provided by PBIs, HPCs, public hospitals, non-profit hospitals and public ambulance services to employees is exempt from FBT. This exemption only applies to meal entertainment and not to recreation. See Meal entertainment provided by PBIs etc.

<span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 2.8rem;">Calculations
<span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">The taxing of entertainment and related benefits falls into a number of possible FBT categories:
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">Meals entertainment – choose calculation method
 * 50/50 split method
 * 12 week register method, or
 * actual expenditure method

<span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">**For calculation methodology in general**, see Calculating fringe benefits tax <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">**For calculation methodology and worksheets** – see CPA Australia FBT checklist (2015)
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">Expense payment fringe benefit
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">Property fringe benefit
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">Residual fringe benefit
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">Tax exempt body entertainment fringe benefit

=<span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 3.8rem;">Tax-exempt Body Entertainment Fringe Benefits = https://atotaxrates.info/businesses/fringe-benefits-tax/tax-exempt-body-entertainment-fringe-benefits/ <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">An employer which is wholly or partly exempt from income tax is a ‘tax exempt body’. <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">Because income tax is not paid, there are specific FBT rules which apply to tax-exempt bodies. <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">The ‘tax-exempt body entertainment fringe benefit’ only applies to **non-deductible entertainment**. To determine this, a non-taxable entity has to consider whether the expense **would be** deductible, if the organisation was not tax exempt. <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">** Update Cap on entertainment:** From 1 April 2016 – a separate grossed-up cap of $5,000 will apply for salary-sacrificed meal entertainment benefits, with the excess to be counted in calculating the existing FBT exemption or rebate cap. Meal entertainment benefits will be reportable. See: Enabling legislation – passed 25 November 2015 <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">An ‘**entertainment**‘ benefit may be any of
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">food, drink or recreation
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">accommodation or travel in connection with such entertainment, or
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">paying or reimbursing expenses incurred in obtaining something covered by the above

<span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">Small Business FBT exampt for the electronic device:

https://atotaxrates.info/businesses/small-businesses/
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">From 12 May 2015 Primary producers to receive accelerated deductions for water facilities (100%), fodder storage (3 years) and fencing (100%)
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">Extension of rollover relief: Small business owners are to be able to change the legal structure of their business without incurring a CGT liability from 1 July 2016. The final legislation extends the relief to the transfer of trading stock, revenue assets and depreciating assets. See the amending legislation here and the following **guidance publications**:
 * LCG 2016/D3 – Small Business Restructure Roll over: genuine restructure of an ongoing business
 * LCG 2016/D2 – Small Business Restructure Roll over: consequences of a roll over


 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">The FBT small business exemption for portable electronic devices for work purposes is expanded to include more than one device performing a similar function from 1 April 2016. This exemption refers to devices such as laptop computers, tablets and phablets. Before the change, there is an exemption limit of one portable electronic device per FBT year performing a similar function. See further Fringe Benefits Tax exemptions

<span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 2.8rem;">Eligibility: The small business turnover test
<span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">The turnover test is determined year by year, and is met if:
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">actual aggregated turnover was less than $2 million in the previous or current income years, or
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">is estimated to be less than $2 million in the current year (provided it was less than $2 million for one of the two previous income years).

FBT: What's new in 2016-17? - a quick list

https://atotaxrates.info/businesses/fringe-benefits-tax/

<span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">The following updated rates and thresholds for the 2016-17 FBT year have been published:


 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">FBT cents per kilometre for vehicle other than a car rates uplifted – see here
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">indexation factors for valuing non-remote housing – updated here
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">the FBT benchmark interest rate for 2016-17 is unchanged at 5.65% per annum – see FBT benchmark interest rates
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">Living away from home – reasonable food and drink amounts increased – Commissioner’s determinations
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">FBT record-keeping exemption threshold uplifted to $8,286 – see Exemption Thresholds
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">Car parking daily fee thresholds – adjusted annually – see Car Parking FBT
 * <span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans'; font-family: 'PT Sans',sans-serif; font-size: 1.8rem; font-size: 16px;">Reasonable food and drink – Commissioner’s determination for 2016-17

<span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">Liberalisation of the exemption for portable electronic devices and the $5,000 cap on entertainment expenses take effect from the FBT year commencing 1 April 2016.

<span style="background-color: #ffffff; color: #333333; font-family: 'PT Sans',sans-serif; font-size: 1.8rem;">FBT Type2 and Type 1

https://www.ato.gov.au/General/Fringe-benefits-tax-(FBT)/How-to-calculate-your-FBT/ <span style="background-color: #ffffff; color: #666666; font-family: Swiss721BT-Light,Arial,Helvetica,sans-serif; font-size: 18px;">When working out your FBT liability you must gross-up the taxable value of benefits you provide, to reflect the gross salary employees would have to earn at the highest marginal tax rate (including Medicare levy) to buy the benefits after paying tax. <span style="background-color: #ffffff; color: #666666; font-family: Swiss721BT-Light,Arial,Helvetica,sans-serif; font-size: 18px;">There are two separate gross-up rates used to calculate fringe benefits taxable amounts:
 * <span style="background-color: #ffffff; color: #666666; font-family: Swiss721BT-Light,Arial,Helvetica,sans-serif; font-size: 18px;"> [|higher gross-up rate (type 1)] is used where you (or other benefit providers) are entitled to a GST credit for GST paid on benefits provided to an employee. These benefits are known as GST-creditable benefits.
 * <span style="background-color: #ffffff; color: #666666; font-family: Swiss721BT-Light,Arial,Helvetica,sans-serif; font-size: 18px;"> [|lower gross-up rate (type 2)] is used where there is no entitlement to a GST credit.





Charity non profit organisation

<span style="color: #e55302; font-family: pmsoftbold,Arial,sans-serif; font-size: 2.1em;">4. Select your Meal Entertainment/ Venue Hire amounts
<span style="color: #ffffff; display: block; font-family: pmsoftbold,Arial,sans-serif; font-size: 1.6em; text-align: center; text-decoration: none; vertical-align: baseline;">[|?] <span style="background-color: #ffffff; color: #666666; display: block; font-family: Arial; font-size: 10px;"> Your current eligible benefits are:
 * <span style="color: #666666; font-family: inherit; font-family: inherit; font-size: 0.85em; font-size: 1.2em;">Meal entertainment
 * <span style="color: #666666; font-family: inherit; font-family: inherit; font-size: 0.85em; font-size: 1.2em;">Holiday accommodation
 * <span style="color: #666666; font-family: inherit; font-family: inherit; font-size: 0.85em; font-size: 1.2em;">Venue hire

<span style="color: #58595b; font-family: Helvetica,Arial,sans-serif; font-size: 1.4em;"> Please note: A combined cap of $2550 is applied to these benefits per FBT year, over and above your living expenses FBT cap.