Australia: Fringe benefits tax return, instructions for 2021
Australia: Fringe benefits tax return, instructions
The Australian Taxation Office (ATO) released the 2021 fringe benefits tax (FBT) return and accompanying instructions for use by employers.
Read information about the 2021 FBT return and instructions on the ATO website.
- The information outlines how legislation changes and guidance will apply for the 2021 year, and also provides a summary of what other factors employers need to consider this year.
- Draft Taxation Ruling 2019/D5 (which applies to car parking fringe benefits) is expected to be finalised before 1 April 2021.
- The ATO stated any changes from Taxation Ruling 96/26 will apply from 1 April 2021 and transitional arrangements may be considered.
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