The ATO has released determinations TD2012/3 to 7 that set out the Commissioner's rates and thresholds for the FBT year commencing 1 April 2012:
- The record-keeping exemption threshold for employers that allows them to determine their aggregate fringe benefits amount based on their 'base year' will be $7,642.
- The indexation factors for valuing non-remote area housing benefits can be found here.
- The reasonable food components for expatriate employees can be found here.
- The cents per kilometre basis for calculating the private use of an exempt vehicle can be found here.
- The benchmark interest rate for the purposes of a loan fringe benefit and car fringe benefits using the operating cost method is 7.40%
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Last updated April 2012. This article is provided for information purposes only and should not be used in place of advice from your accountant. Please contact us on 02 9957 4033 to discuss your specific circumstances.
This article is provided for information purposes only and correct at the time of publication. It should not be used in place of advice from your accountant. Please contact us on 02 9957 4033 to discuss your specific circumstances.