Simplify the complexities of FBT so you can better understand your compliance obligations. Not only will you be taken step-by-step through the latest legislation, you will learn how to perform the calculations as well as how to make the most tax-efficient choices for your organisation.

These comprehensive modules provide the following:

  • Examples and step-by-step guides to show you how to apply FBT
  • Hints and warnings to help you avoid common pitfalls
  • Problem-solving exercises to allow you to apply what you've learned

Course materials are developed and presented by practitioners with in-depth knowledge and experience in the field.

This course consists of five hard copy learning manuals and five online assessments.

Want to know more? Click below to view a sample of the learning manual:

Learning objectives

Module 1: FBT fundamentals

At the conclusion of the course, you should be able to:

  • Determine whether a benefit has been provided
  • Determine the taxable value of fringe benefits
  • Calculate fringe benefits tax (FBT) payable
  • Calculate individual reportable fringe benefits amounts
  • State the requirements for reporting and paying fringe benefits tax

Module 2: Cars and car parking

At the conclusion of the course, you should be able to:

  • Determine whether a car benefit has been provided
  • Calculate the taxable value of car fringe benefits
  • Determine if a car parking fringe benefit has been provided
  • Calculate the taxable value of a car parking fringe benefit
  • Determine when a car parking fringe benefit is provided
  • Determine which car parking fringe benefits are exempt
  • Calculate the taxable value of car parking fringe benefits using the commercial parking station method, the market valuation method or the average cost method
  • Calculate the number of car parking fringe benefits using the 12-week register method or the statutory formula method

Module 3: Entertainment

At the conclusion of the course, you should be able to:

  • Identify what constitutes entertainment for income tax purposes
  • Identify what constitutes meal entertainment for FBT purposes
  • Calculate the taxable value of meal entertainment and recreation entertainment (including EFLEs)
  • Understand the income tax deductibility and GST credits available for entertainment

Module 4: Smart solutions for salary packaging

At the conclusion of the course, you should be able to:

  • State what benefits are best to include in a package
  • Describe the benefit of packaging items if the employer is exempt or rebatable
  • State the benefits of salary packaging

Module 5: Relocation of employees and living away from home allowance

At the conclusion of the course, you should be able to:

  • Determine whether an employee is living away from his or her usual place of residence, is travelling away from his or her usual place of residence or has changed his or her usual place of residence
  • Determine whether a living-away-from-home allowance has been provided
  • Understand the FBT exemptions and reductions in the fringe benefits taxable value that apply when an employee is relocated

Audience

This learning manual is for people working in small medium enterprises (SMEs) or corporate entities, in Financial Control or Financial Management roles. Suitable anyone wanting a comprehensive understanding of the preparation of FBT returns.

This course is based on the Australian taxation system.

365 Days

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