Navigate the complexities of FBT to better understand your compliance obligations. You will be taken step-by-step through the various types of fringe benefits and their respective rules plus you will learn how to calculate FBT payable and make informed decisions when providing benefits.
This workshop covers all 12 types of FBT, using real life examples to guide you through:
- What fringe benefits are
- What excluded fringe benefits are
- How to reduce fringe benefits by applying the ‘otherwise deductible’ rule and via employee contributions
- Each of the 12 fringe benefits categories, including cars, car parking, debt waiver, loans,
- expense payments, property, housing, living-away-from-home allowance (LAFHA), board, meal entertainment, tax-exempt body meal entertainment and residual fringe benefits
- Calculating the fringe benefits taxable value under each of the 12 fringe benefits categories
- Calculating the grossed-up amounts of the various fringe benefits
- Calculating FBT payable
- Calculating the reportable fringe benefits amount to be included on your employee’s PAYG payment summary
- Summarising the various exempt benefits provided for under the FBT Act, including clarification of the minor $300 fringe benefit rule, portable electronic devices used primarily for work purposes, taxi travel and a range of other exempt benefits and rebatable employers
- The various relocation and remote area exemptions and concessions available under the Fringe Benefits Tax Assessment Act 1986 (FBTAA) for those employees working in, or seconded to, a remote area
- Discussion of a range of reductions to the fringe benefits taxable value
You will receive:
- Examples and step–by–step guides on how to apply FBT
- Hints and warnings to avoid common pitfalls
- Problem solving exercises to apply what you’ve learned
- A comprehensive FBT learning manual
- Presentation slides
- Ample networking opportunities with colleagues over morning and afternoon tea and lunch
