Fringe benefits tax essentials

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					Fringe benefits
tax essentials
Unravel the complexities of FBT



February – March 2010                           Introductory Level          Intermediate Level
                                                Workshop 1                  Workshops 2 – 5




Let the experts take you through your
compliance requirements under FBT. Using
case studies and practical examples, you’ll
learn how to correctly apply FBT in a variety
of situations and avoid costly mistakes.



‘Very satisfied, would
recommend to anyone.’
S. Koch, WA




                      •   Workshop 1: FBT fundamentals

       co     vered   •   Workshop 2: Cars and car parking
Topics                •   Workshop 3: Entertainment
                      •   Workshop 4: Smart solutions for salary packaging
                      •   Workshop 5: Relocation of employees and living away from home allowance
Fringe benefits tax essentials


 About the program                                 Program suited for                               Workshop 1
 Simplify the complexities of FBT, so you          This workshop series provides essential          FBT fundamentals
 can better understand your compliance             FBT knowledge for business professionals         9.00am – 12.30pm
 obligations and be aware of the pitfalls          – no matter what industry you’re in!
 and traps posed under FBT legislation.                                                             Understand how and why FBT was
                                                   Workshop 1                                       introduced, what the different sections of
 Not only will you be taken step-by-step
                                                   Introductory level provides an overview          the Act mean, how to make the calculations,
 through the latest legislation, you will be
                                                   of FBT and requires basic knowledge of           what the exemptions are, and more.
 shown how to perform the calculations
                                                   the main principles
 and learn how to make the most tax-
 efficient choices for your organisation.          Workshops 2 – 5                                  Key topics covered
                                                   Intermediate level provides increased            • The difference between ‘fringe benefit’
 Minimise the amount of FBT paid by your
                                                   detail on the principles, and a focus on the       and ‘benefit’
 organisation with these five practical
                                                   analysis and application of knowledge            • What constitutes a ‘fringe benefit
 modules. Choose the module that best
 suits your needs or register for all five for a                                                      taxable amount’
 complete guide to fringe benefits tax.            Workshop presenters                              • The taxable values of different benefits
 These workshops will help you:                    Experienced trainers who have in-depth           • How to calculate the FBT payable for
                                                   knowledge of the legislation, its complexities     PBIs, hospitals and rebatable employees
 • Understand how and why FBT                      and applications will guide you through          • What benefits are exempt from FBT,
   was introduced                                  the complex maze of FBT. They will deliver         including minor benefits, and those
 • Determine how and where FBT applies             this intricate information simply and clearly,     consumed on premises on a workday
 • Calculate the taxable value of                  encouraging discussion and interaction, so
                                                                                                    • Reductions in taxable value and the
   benefits provided                               you can get the most out of the workshop.
                                                                                                      ‘otherwise deductible’ rule
                                                   Exercises and problem-solving scenarios
 • Understand the ATO approach and                 bring a strong, practical element to the         • Creditable acquisitions and the GST
   practice pertaining to key areas of FBT         learning experience.                             • GST and acquisitions involving type
 • Minimise the impact on your bottom line         ACT: Danette Fenton-Menzies CPA                    1 and type 2 benefits
 • Identify the different methods for              NSW: Peter Adams                                 • Quarterly instalments of FBT
   calculating and determining benefits in
                                                   QLD: Raffi Tenenbaum                             • Calculating individual amounts on
   cars and entertainment
                                                                                                      reportable fringe benefits
 • Identify entertainment and meal                 VIC: Stephen Jones CPA
   entertainment expenses and calculate            WA: Syd Jenkins
                                                                                                    Workshop 2
   tax implications
 • Find out what benefits you can include          Take away reference material                     Cars and car parking
   in an employee’s remuneration package                                                            1.30pm – 5.00pm
                                                   You’ll receive a technical training manual
 • Learn what’s exempt and what’s not              for each workshop you attend. These              Explore the different methods for calculating
   under FBT when an employee actually             comprehensive manuals include detailed           the taxable value of car and car parking
   moves to a new residence                        notes, matrices, case studies, worked            benefits, including an analysis of methods
                                                   examples, templates and tables.                  to reduce such taxable values.
 Learning outcomes
                                                                                                    Key topics covered
 You will learn:
                                                                                                    Cars
 • How to perform the calculations                 Learning options
                                                                                                    • The definition of a car benefit and
 • What the exemptions are                         Choose the learning style that meets               the exclusions
 • How GST interacts with FBT                      your needs. This program has three
                                                   learning options available:                      • The statutory formula method, including:
 • The different methods for calculating                                                               - Calculating the base value for leased
   the taxable value of benefits on cars                                                                 and second-hand cars
   and car parking
                                                                                                       - The taxable value and the FBT applicable
 • How to use a matrix of tax treatment for
   entertainment expenses                                                                              - The effect of recipient’s contributions

 • What benefits can be included in an                                                              • The operating cost method, including:
   employee’s remuneration package                                                                     - The declarations and records required
 • The ATO’s policy on salary packaging                                                                - Estimating business use
   and associated issues                                                                               - What circumstances warrant using
 • How payroll tax and other legislative                                                                 this method
   obligations are impacted                                                                         • Reviewing different forms of lease
 • How to calculate living away from                                                                  arrangements eg novated
   home allowance
                                                                                                    Car parking
 • What constitutes a ‘usual place
                                                                                                    • When is a car parking benefit provided?
   of residence’
                                                                                                    • Calculating the taxable value
 • The difference between travel and
   ‘living away from home’                                                                          • Exemptions available
                                                                                                    • Car parking expense payment
                                                                                                      fringe benefits
                                                                                          Fringe benefits tax essentials


Workshop 3                                       Workshop 4                                      Workshop 5 (NSW, VIC only)
Entertainment                                    Smart solutions for                             Relocation of employees
9.00am – 12.30pm                                 salary packaging                                and living away from
Take a step-by-step approach through             1.30pm – 5.00pm                                 home allowance
the confusing area of entertainment using        Get clarity around what benefits you can        9.00am – 12.30pm
many examples, including the handy use           include in an employee’s remuneration
of a matrix tool of tax treatment for                                                            Understand all you need to know on
                                                 package, how the ATO approaches the issue,      the relocation of employees and the tax
entertainment expenses.                          and how payroll tax and other legislative       treatment of a living away from home
                                                 obligations are impacted by salary packaging.   allowance (LAFHA). It covers all the ‘usual
Key topics covered
                                                                                                 place of residence’ issues you need to
• Determining when entertainment                 Key topics covered                              consider, as well as what’s exempt and
  is provided                                    • What is salary packaging?                     what’s not under FBT when an employee
• Determining when meal entertainment            • Identifying the best benefits, including      actually moves to a new residence.
  is provided                                      which are exempt or concessionally taxed
• Identifying what constitutes a promotional                                                     Key topics covered
                                                 • Which employers are exempt
  event or seminar                                                                               • What qualifies as a ‘usual place
                                                 • How to calculate the FBT charge
• Calculating the taxable value of meal                                                            of residence’
                                                   on a package
  entertainment using:                                                                           • Living away from, returning to or changing
                                                 • The effect of SGC, payroll tax and
   - the actual method                                                                             the usual place of residence
                                                   WorkCover legislation
   - 50/50 method                                                                                • Exemptions on payments made to
                                                 • The ATO policy on packaging and the
                                                                                                   employees in such events
   - 12-week register method                       issues this raises
                                                                                                 • The difference between travel and ‘living
• Determining whether exemptions apply to        • Long-service leave, cashing out leave,
                                                                                                   away from home’
  entertainment expenditure                        and the ATO’s approach
                                                                                                 • Overseas postings and
• Understanding the income tax implications      • How to determine which arrangements
                                                                                                   expatriate employees
• Understanding the GST credits available          are valid
                                                                                                 • The exemption of accommodation and
• Understanding the ATO approach to              • Bonuses
                                                                                                   food when provided
  entertainment for purposes of FBT, GST


                                                                !
                                                                                                 • Calculating a LAFHA



                                                          AVEor
  and income tax
                                                                                                 • Relocation exemptions


                                                         S er f                                  • Reducing the taxable value, often to zero,
                                                                                                   using certain provisions

                                                                  t
‘Excellent presentation, very                               Regis more
                                                                  r
informative, good presenter.’
                                                            four o hops
S. Howell FCPA, QLD
                                                             works ve!
                                                              and sa



Fringe benefits tax – Learning manuals

If you are unable to attend the workshops,       Completely updated and revised
this set of learning manuals will help you       to cover all the latest changes to
simplify the complex FBT maze. Reflecting        FBT, this set of learning manuals
the content of the face-to-face workshops,       consists of five modules:
it will take you step-by-step through all the
benefits covered by the latest legislation,      • FBT fundamentals
helping you to minimise the amount of FBT        • Cars and car parking
paid by your organisation.                       • Entertainment
Work through these modules at your own           • Smart solutions for salary packaging
pace and gain the knowledge and skills to        • Relocation of employees and living away
implement FBT strategically and effectively in     from home allowance
your organisation.                                                                               L2 Intermediate Level
                                     Order form 2010 | Fringe benefits tax essentials
        THREE EaSy WayS To oRDER

              Fax:                               Mail:                                                       online:                                                                                                                 For all enquiries
                                                 Member Administration                                       cpaaustralia.com.au/cpd                                                                                                 please contact
        1300 658 156                             CPA Australia Ltd, GPO Box 2820
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                                                                                                             Not available for all workshops
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    must be completed for each attendee. Please sign and date below†
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2       Select your workshop fee                                                   All prices include GST

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     Any four workshops package SAVE!                                 $1,055                 $1,275

     All five workshops package SAVE!                                 $1,315                 $1,595

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                                                                      Workshop 1                     Workshop 2                                     Workshop 3                                       Workshop 4                                    Workshop 5
     City
                                                                    9.00am – 12.30pm                1.30pm – 5.00pm                               9.00am – 12.30pm                                  1.30pm – 5.00pm                              9.00am – 12.30pm
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     Perth                                                          17 Mar          2171           17 Mar                 2172                    18 Mar                   2173                   18 Mar                   2174
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4       Learning manuals – set of five                                                                                                                                                                            25                                                                  *
                                                    Member               Member sale**            Non-member                       Non-member sale**                                    *CPD hours are subject to successful completion of an online
                                                                                                                                                                                        assessment within 6 months of purchase. Assessments are
     Fringe benefits tax (CPD069)                        $462.00             $346.50                  $649.00                              $486.75                                      available on request at myonlinelearning@cpaaustralia.com.au
                                                                                                                                                                                        ** Sale prices valid to 31 December 2009/inc. GST

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Description: Fringe benefits tax essentials