FBT Cars and Car Parking - Recording

Cars and Car Parking

Explore the different methods for calculating the taxable value of cars and car parking benefits.

Cars

• What is a car benefit?


• What is an ‘excluded car fringe benefit?’


• The statutory formula method:

- Calculating the base value for leased and second-hand cars
- The taxable value and the associated FBT liability
- The declarations and records required
- The effect of recipient’s contributions

• The operating cost method:

- The declarations and records required
- Estimating business use, and what situations warrant using this method

• Reviewing different forms of lease arrangements including novated leases

Car Parking

• When is a car parking benefit provided?


• Calculating the taxable value


• Car parking expense payment fringe benefits, and the exemptions

2 CPE/CPD hours

Who should attend?
This is an intermediate level session for:

> Accountants in SMEs
> Accountants in public practice who advise to SMEs
> Payroll staff
> Fleet managers

If you are unsure your FBT knowledge is adequate, or you would like a refresher, we recommend you attend one of the FBT Basics sessions in this series prior to this session.

Presented by KPMG

**Bonus Offer**

Chartered Accountants FBT & Salary Packaging Toolkit

This comprehensive set of resource materials will help supplement the Live Online Training Modules.

It will assist you to simplify the often complicated FBT maze. It will also assist in ensuring the correct amount of FBT is paid by your organisation.

A resource to use in your own time and assist you to retain the knowledge and skills to implement FBT strategically and effectively in your organisation.

Completely updated and revised to cover all the latest changes to FBT, this toolkit includes technical information, checklists, worked examples and guides, including:

• FBT basics


• Car benefits and car parking


• Entertainment


• Salary packaging


• Allowances & Exemptions

How the bonus works

> Purchase 1, 2 or 3 Live Online FBT Modules and received a 15% discount off the full price of the FBT & Salary Packaging Toolkit.

To take up the offer, purchase the toolkit here:

http://www.charteredaccountants.com.au/products/productid=A122172060

Note: The FBT & Salary Packaging Toolkit will be emailed to you in early February next year.