TaxVine 13 Preamble — FBT return lodgment: Is there a better way?

[Zoe-MarieBeesley]

This week’s TaxVine preamble is authored by Paul Ellis, CTA, Associate Partner, Employment Taxes at EY and Chair of The Tax Institute’s National FBT and Employment Taxes Technical Committee.

Paul explains why the Fringe benefits tax (FBT) return lodgment date is problematic and proffers alternative approaches.

What are your thoughts, ideas, experiences and comments when it comes to FBT return lodgment arrangements? Join the conversation here.

Regards

Zoe Beesley
Tax Policy Assistant
The Tax Institute

• This topic was modified 2 months, 1 week ago by RobynTax.

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[DavidJonavicius]

The only alternative is to bring forward the FBT year.

Reportable FBT must be available by the time payment summaries are prepared, and it is not logical or equitable to expect employees to defer individual lodgements because of this.

Of course a vastly simplified system as suggested by the TTI may also alleviate much of the June quarter stresses.

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