Tips in Preparing the 2022 FBT Return

The 2022 FBT year ended on 31 March 202. Businesses should now be planning to ensure their documentation is in place to accurately prepare and lodge their FBT returns on time. With COVID-19 still having a major impact in the 2022 FBT year, this year may again require additional focus to ensure the correct exemptions are being applied and FBT is calculated correctly, Peter Bembrick and Steven Glavevski of HLB Mann Judd discuss the main issues with car and entertainment fringe benefits and also the major FBT changes for 2022. Also discussed are areas that will form part of the ATO's FBT compliance focus for 2021 including motor vehicles, car parking, entertainment, employee contributions, and record keeping.

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