Fact sheet on the FBT exemption for electric vehicles
The ATO has released a fact sheet for employers outlining the operation of the FBT exemption for electric vehicles which was recently passed into law. It addresses:
- what is required for a car benefit to qualify for the exemption; and
- how associated benefits that an employer may also provide should be treated.
ATO acknowledges settlement of Ampol Ltd procurement hub dispute
The ATO has acknowledged its settlement with Ampol Ltd regarding the dispute over the company’s use of a Singapore-based procurement hub. As part of the settlement:
- Ampol will pay $157 million to the Commonwealth in respect of past income years back to 2014; and
- tax outcomes arising from Ampol’s future use of the procurement hub have been locked in until the 2033 income year.
Addendum to TR 2021/2
The ATO has released TR 2021/2A1, which updates TR 2021/2 (which sets out the Commissioner’s view regarding when the provision of car parking is a car parking benefit for the purposes of the FBTAA) by incorporating changes addressing the concept of ‘primary place of employment’ following the decision in FCT v Virgin Australia Regional Airlines Pty Ltd  FCAFC 209. The addendum also implements some stylistic changes.
Draft Determinations regarding alternative FBT records
The ATO has released the following draft FBT determinations, which deal with the records the Commissioner will accept as an adequate alternative to an employee declaration in respect of certain expense payment fringe benefits:
Class ruling released
The ATO has released CR 2023/9 – Pendal Group Ltd – Dividend and scheme of arrangement.