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THE TAX LIBRARY
Fringe Benefit Tax changes
By Belinda Crowley
There have been major changes regarding the Fringe Benefits Tax (FBT) in the last year. Hear from Senior Manager in the RSM tax division in Brisbane, Belinda Crowley, explain the details of the changes.
On 1 March 2021, the ATO released Draft Practical Compliance Guideline PCG 2021/D2 in respect of the ATO’s ‘swim between the flags’ compliance approach to the allocation of profits from professional service firms.
In recent years, the Australian Taxation Office (ATO) has overhauled its broad-brush approach to undertaking tax audits – instead opting for a targeted risk-based approach. Continue reading...