ATO - LODGEMENT AND FBT COMPLIANCE

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ARE YOUR LODGEMENTS UP TO DATE? IF NOT, PREPARE TO BE CONTACTED BY AN AGENCY ON BEHALF OF THE ATO!

The ATO are using external collection agencies to secure lodgement of outstanding Tax Returns and Activity Statements on their behalf.

This process has already been trialled.  From the end of November, the ATO will commence sending letters direct to Taxpayers requesting they get their obligations up to date.  If no action is taken by the Taxpayer, the matter will be referred to an external collection agency.

If you receive a letter or contact from a Collection Agency, please contact our office.

 

GOT A CAR REGISTERED UNDER A BUSINESS NAME?  MAKE SURE YOU HAVE LODGED AN FBT RETURN!

Anyone that has a car registered in a business name and has not lodged a Fringe Benefits Tax Return (FBT) will be contacted by the ATO.

When a business owns or leases a car and makes it available for employees’ private travel, a fringe benefit occurs.  Be aware that business Directors are also classed as employees for FBT.

Private use of a company car includes:

  • Employees using the car for private travel, such as travel between work and home

  • Garaging the car at or near an employees’ home and making it available for private use – even if the car is not used by the employee.

If you would like to discuss your FBT compliance, please contact our office.