FBT Issues on ATO Radar
- Failing to report car fringe benefits, incorrectly applying exemptions for vehicles or incorrectly claiming reductions for these benefits
- Mismatches between the amount reported as an employee contribution on an FBT return compared to the income amounts on an employer’s tax return
- Claiming entertainment expenses as a deduction but not correctly reporting them as a fringe benefit, or incorrectly classifying entertainment expenses as sponsorship or advertising
- Incorrectly calculating car parking fringe benefits
- Not applying FBT to the personal use of an organisation’s assets provided for the personal enjoyment of employees or associates (e.g. spouses)
- Not lodging FBT returns (or lodging them late) to delay or avoid payment of tax.
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