Electric vehicles
The Australian Taxation Office (ATO) continue to look at the issue of demonstrator electric vehicles (EV) stock in relation to fringe benefits tax (FBT) exceptions. Group members will provide examples that will be used to workshop this issue in the new year
Draft Practical Compliance Guideline PCG 2023/D1
The ATO is considering feedback with the aim to publish as soon as possible.
The issue of charging EV's on work premises remains a priority for the ATO and will be progressed in 2024. Bi-directional charging remains on the ATOs list of emerging risks.
Car parking
Chapter 16 of the FBT - a guide for employers was updated and published on 8 November 2023.
Stage 2 of the update, that covers the ATO view on the ‘members of the public’ issue is near completion. The ATO intends to update Chapter 16 of the employers' guide with our position on this issue in the new year.
Recording keeping new measures
Feedback and submissions received for the third tranche of legislative instruments and explanatory statements are being considered with the aim to publish by 1 April 2024.
Program of work submission
Modification to the carrying capacity of vehicles
Although there are several guidance products addressing this topic, there is scope to improve and streamline guidance regarding the tax implications of the modification of vehicles.
The ATO will workshop this with group members in 2024.
Other business
The Random Enquiry Program started in September 2022 and looks at all employer obligations including FBT to identify non-compliance.
More broadly, the ATO remains focused on:
- undertaking increased compliance activities across all employer obligations, including FBT
- increasing willing participation in the tax and super system
- supporting clients to get it right
- addressing egregious behaviour.