It’s 2024 fringe benefits tax (FBT) time!

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Its 2024 fringe benefits tax (FBT) time!
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• As the 2024 fringe benefits tax (FBT) period
  approaches, its essential to note key dates and
  obligations. Employers who have provided fringe
  benefits to their employees or their associates
  between April 1, 2023, and March 31, 2024, are
  required to lodge and pay their 2024 FBT returns
  promptly. 
• Notable dates to remember include
• The conclusion of the 2024 FBT year on March 31,
  2024.

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• The deadline for lodging FBT returns and settling
  any outstanding liabilities to avoid penalties
  and interest is May 21.
• For electronic lodgments through tax
  practitioners, the due date for lodging and
  payment is June 25.
• Employers new to lodging with a tax practitioner
  must ensure inclusion on their FBT client list by
  May 21 to be eligible for the June lodgment and
  payment timeline.

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• Even if no FBT return is necessary, registered
  employers must inform the Australian Taxation
  crucial, the ATO recognizes exceptional
  circumstances and encourages proactive
  communication for those experiencing
  difficulties. For further assistance, refer to
  the ATOs support resources.Office (ATO) by the
  due date of their intended return submission.
  While timeliness is

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• Additionally, new FBT rate tables for the period
  ending March 31, 2025, have been introduced,
  providing clarity on rates for various items such
  as motor vehicles and reasonable food and drink
  amounts. For comprehensive rate details, visit
  the ATOs dedicated page.

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• In other developments, adjustments have been made
  to the Real Estate Award concerning excess travel
  time. These changes clarify when employees are
  entitled to compensation for travel time
  exceeding their typical commute to their
  employers business premises. Notable points
  include
• Compensation for additional travel time beyond
  the norm is treated as time worked, with
  employees receiving ordinary or overtime rates
  where applicable.

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• Employees utilizing their vehicles are entitled
  to the relevant motor vehicle allowance.
• For example, if an employee is required to attend
  a clients home for work, any excess travel time
  beyond their usual commute is compensated
  accordingly. This ensures fairness and adherence
  to employment regulations.
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