News and Views Podcast Show · Sarah Power: Director of Business Concepts Group, Financial Planner and Accountant

NV139: FBT 2023

·23 min·1 clip

An electric car under $84,916 can unlock GST, write-off, and FBT savings.

1. BCG News and Views Podcast Show episode 139 covers fringe benefits tax for the 2023 FBT year. 2. Sarah Power hosts and Chris Reid joins as the tax commentator, and both explain business tax and superannuation dates. 3. The episode asks which employee benefits trigger FBT, which exemptions apply, and which 2023 changes matter most. 4. Sarah lists the March quarter deadlines, including super due on 28 April and BAS due on 26 May for electronic lodgment. 5. She also notes that the FBT year ends on 31 March and that electronic FBT returns are due by 25 June. 6. Chris says FBT is often neglected and that the ATO could use data matching on motor vehicle registries and company cars. 7. Sarah says the tax is charged at 47% on a grossed-up benefit, but the related expenses and GST can be deductible when FBT is paid. 8. The hosts focus on company cars, especially vehicles available for private use, and Chris says logbooks and employee contributions can reduce or remove liability. 9. They also warn that signage on a ute does not automatically create an exemption and that heavy-duty work vehicles are treated differently. 10. Sarah adds that parking a work vehicle at home after driving from work can count as private use. 11. The discussion moves to car parking, where Sarah explains that the old commercial-parking-station test has expanded for the 2023 FBT year. 12. Chris says shopping-centre parking with time limits, hourly charges, or boom gates can now be a commercial parking station within one kilometre of a workplace. 13. They say that small businesses near shopping centres may now face FBT on staff car parks that were previously outside the rules. 14. Entertainment is another focus, with Sarah and Chris discussing Christmas parties, work lunches, client meals, and the need to know who attended and what was provided. 15. Chris explains that the $300 minor-benefit rule can apply to entertainment, but it also blocks the GST credit and income-tax deduction if the benefit is treated as exempt. 16. The episode names other exemptions, including portable electronic devices, laptops, mobile phones, and tools of trade bought for work use. 17. Sarah shifts to the zero- and low-emissions vehicle exemption, which applies to vehicles purchased from 1 July 2022 and ready for use after that date. 18. Chris says the rule covers electric, hydrogen, and some plug-in hybrid vehicles until 1 April 2025, and that reportable fringe benefits still have to be calculated for employee income statements. 19. The tone is practical and advisory, with two hosts trading examples, deadlines, and compliance warnings in a steady studio conversation. 20. Employers with cars, parking, or staff entertainment will get the most value from this episode, while listeners wanting general business news may skip it.

As heard by us

A practical FBT refresher that keeps coming back to the same question: can it be defended?

Sarah Power and Chris Reid keep the discussion grounded in the parts of fringe benefits tax that actually trip people up: who was there, what changed hands, whether an exemption applies, and what the file needs to show if the ATO comes back later.

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Need a plain-English FBT reset before the paperwork starts piling up?

Read the full recommendation in PlayNext →

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