It was 20 years ago today FBT was introduced to stay. Now see what we ve done with it!

Transcription

1 FBT 2006 It was 20 years ago today FBT was introduced to stay Now see what we ve done with it! Terrific! Best money for training I have ever spent. Armidale 2005 Train with the specialists in taxation education for government agencies Contact Details TaxEd Pty Ltd ABN Tel: Fax: PO Box 1168 Kensington VIC 3031 admin@taxed.com.au

2 Ultimate Package years ago... It has been 20 years since FBT was introduced. Finally someone has come up with The Ultimate FBT Training & Support Package and the best part is, it s designed for you, the Government & non- profit sectors! Training Link into one of our city or regional venues during the 2006 FBT training series Tools / Support A suite of stand alone FBT tools including; the government & non-profit 2006 reference resource, online Q&A support, Meal Entertainment Interactive Spreadsheet, Remote Area Benefits Supplement, Motor Vehicle Supplement, Exempt Vehicle Catalogue, and more Training and Tools can be requested separately or as a complete package. Australian National Audit Office The ANAO has handed down a critical report on government sector FBT compliance. Staff turnover and lack of relevant training for new and existing staff was targeted as a key factor. So here is the solution

3 Training Training Training Programme outline 9.00 am Registration begins join us for some sustenance (drinks and croissants) 9.30 am to 12 noon FBT Highlights, Cars, Expense payments This session contains a refresher of all the salient facts. We concentrate on many areas where there is confusion, including: benefits provided under arrangements social clubs and employer-arranged third party discounts benefits provided by associates who are your associates? employees and associates councillors, elected officials, employees acting as nonemployees, volunteers, contractors benefits provided in future and previous years cars or residual vehicles?, exempt or not? rules that you won t forget again private use explained home garaging, bulky equipment, emergency use, on-call, from home to site, inspections logbooks what the ATO expects employer responsibilities the formulae each component needs analysis minimising your liability expense payment benefits provided in different ways the exempt expense payment benefits using the otherwise deductible rule to reduce your liability the complex GST ramifications explained using the valuation rules to minimise FBT case studies to explain all the difficult areas 12 noon Be our guest for a hot lunch 12.45pm to 2.45pm Entertainment, Property, Residuals and Exemptions entertainment includes meals, recreation, travel and accommodation when and why? sustenance or entertainment? most situations covered through case studies dining facilities, meals at meetings, meals at functions while working there, alcohol etc which valuation method is best for you? Can you change methods mid-year? apportioning between employees and nonemployees. What about insignificant amounts the perennial problem of the Xmas party social clubs and award functions when sustenance is treated as a property benefit are vouchers, property or residual benefits minimising property benefit valuations in-house benefits, exemptions and concessions available residual benefits fall into the FBT cesspool how to identify them using valuation rules to minimise residual benefit FBT the important difference between an allowance and a reimbursement every exemption listed learn to apply exemptions correctly and advantageously the ATO says some exemptions are being claimed invalidly which ones and why? 3.15 pm to 4.30 pm Remote areas/car parking, Loans, LAFHA, Calculations, FBT return, Record keeping every exemption listed learn to apply exemptions correctly and advantageously remote area and or car parking discussed as required by attendees (urban vs regional areas) repayment by employees for laptops, travel passes, uniforms etc are there two benefits? when can the minor benefit exemption be used? why the use of LAFHA provides tax planning opportunities the ATO s new view and about turn ATO audit activity attention to correct gross-up rate, record keeping where benefits are shown on return how to gauge whether you are considered an FBT risk by the ATO 4.30 pm Close Training counts for six CPD / CPE Hours For TaxEd members 6 hours is automatically recorded on your PD tracking service at With the large number of new developments in key areas affecting government and non profit entities to be discussed, this training will be very relevant to your staff, even if they have recently attended an FBT seminar.

4 FBT 05/06 New developments in 2005/2006 New developments in 2005/2006 What s changed you may ask? Let s begin with Dual cabs update of exempt vehicles full list Apportioning entertainment between employees and non-employees clarification Car benefits effect of contribution by employee to purchase price Retention of electronic records what satisfies the ATO? Meal Entertainment Fringe Benefit: 50/50 split method - reimbursement of employer s expenditure by a third party Laptops - expense payment made earlier in the FBT year Remote area housing - non-arm s length arrangements Remote area housing and water how much is taxable? Employee contributions -can excess contributions be used in a later FBT year? New interest and penalties to be applied Employees in foreign service now subject to FBT ATO s view on what constitutes a LAFHA update Personal credit card payments exempt or not? When to use 365 days or 366 days in formulae surprising ATO change Extended application of relocation concessions ANAO audit report on the administration of FBT Cancellation fees FBT treatment The provision of food and drink in dining facilities when exempt Employer contributions to social clubs and benefits provided by social clubs to members latest Lease payments on dwelling after employee terminates employment Work related counselling what can you provide as exempt benefit? Charitable institutions and charitable funds FBT differences All the new benchmark rates and thresholds Laptop and loans one benefit or two? Long service awards exemption increased Exemption for work-related tools more laptop accessories included Remote area housing more employers entitled to provide exemption FBT rebate eligibility - Commonwealth, State and Territory institutions latest Entertainment employees attending a function as a an employment duty Relocation exemption does it include transporting a car? Employee discounts from third parties sometimes taxable, sometimes not Thanks It makes such a difference when the focus is on our specific issues! Brisbane 2005 I really enjoyed your tax presentation in Melbourne. The presenter was the best I have ever seen. How can you make tax interesting???? Melbourne 2005

5 & Support Tools & Support Support package is included with training The Ultimate FBT Guide Government & Non-Profit FBT 2006 Over 200 pages Every benefit covered Specifically created for tax-exempt employers Diagrams and flow charts clarify complex issues Hundreds of examples drawn from real situations Thrilling and exciting You won t want to put it down A must read Melbourne Evening Herald. Online Q&A support Your online lifeline. 30 days access to TaxEd s renowned online support service for any FBT questions. Motor Vehicle Supplement 2006 The supplement comes as an electronic file so you can print it off and provide it to all relevant staff. Also included is an updated catalogue of exempt Dual Cab vehicles. Meal Entertainment Interactive Spreadsheet Many of you have told us that these calculations - particularly the way that your record keeping for GST and FBT often does not interact - is the cause of many a grey hair. Designed for the government / non profit sector, this spreadsheet will help you to calculate the FBT Meal Entertainment value under the three methods quickly and accurately. Substantiation & Record Keeping Documents Forms for use within your organisation to help you remain compliant with ATO record keeping requirements. Including motor vehicle log book examples, no private use declarations, exempt commercial vehicles, and much more. At $195 for members & $295 for non-members this support package represents terrific value. Remote Area Benefits Supplement 2006 Also provided as an electronic file, this booklet contains details on Housing, Fuel, and Travel benefits including recent changes.

6 20 years ago... Locations & Dates FBT 2006 Feb 06 Location Venue Friday 10th Sydney Crowne Plaza, Darling Harbour, 150 Day St. Sydney Monday 13th Wagga Country Comfort, Cnr Morgan & Tarcutta St. Wagga Wagga Wednesday 15th Melbourne ANZ Pavillion, Victorian Arts Centre, 100 St Kilda Rd, Melbourne Friday 17th Hobart Wrest Point Casino, Hobart Monday 20th Canberra Hyatt Hotel, Commonwealth Avenue, Yarralumla Wednesday 22nd Adelaide National Wine Centre of Australia, Cnr of North Terrace and Hackney Road Friday 24th Perth Esplanade Hotel Fremantle, Marine Terrace Fremantle March 06 Location Venue Friday 3rd Dubbo West Dubbo Bowling Club, Whylandra St, Dubbo Monday 6th Armidale Drummond & Smith College, Meredith Rd, University of New England, Armidale Wednesday 8th Bundaberg Burnett Riverside, 7 Quay St. Bundaberg Friday 10th Brisbane Marriott Hotel, 515 Queens St. Brisbane Mon 13th Mackay Ocean International, 1 Bridge Road, Illawong Beach, Mackay Wednesday 15th Cairns Cairns International Hotel, 17 Abbott St, Cairns Friday 17th Darwin Crowne Plaza, 32 Mitchell St, Darwin Wednesday 22nd Sydney Crowne Plaza, Darling Harbour, 150 Day St. Sydney Monday 27th Launceston Hotel Grand Chancellor, 26 Cameron St. Launceston Wednesday 29th Melbourne ANZ Pavillion, Victorian Arts Centre, 100 St Kilda Rd, Melbourne Please note the inclusion of Bundaberg on the 8th of March. I want to say thank you. I was dreading a day of tax but the presenter is to be congratulated, he was quite remarkable and we actually learnt a lot. Talking to colleagues afterwards, they also felt the same - Brisbane 2005

7 FBT 2006 COST & REGISTRATION FBT Years On Register online now at ORGANISATION tax ed taxation education for government agencies Address (NB No payment is required at this time. A confirmation Letter / Tax Invoice will be ed.) Principal contact Name... Position Telephone... I would like to register (number) delegate/s for on the / /06. (venue) (Date) COST (Includes - Tools / Support Package, Full Catering and GST): Standard registration $ per person Group registration $ per person (minimum three delegates). Early Bird $ per person before December 16, 2005 Sub Total $ I would like to purchase the Tools / Support Package. (Training delegates automatically receive this package) COST (Including GST & Postage): TaxEd members $ Non-members $ Sub Total $ Our organisation would like to join the TaxEd Train Us Support Services (TaxEd Train Us is part of the TaxEd Plus membership service. For details Two delegate positions for this training series + 10% off for additional delegates. Year round online technical Q&A support on GST, FBT and PAYG. COST (Including GST): $ (membership till 30 June 2006) Sub Total $ Purchase Order Number (optional) Register Our organisation is a TaxEd Train Us member. If yes please tick and we will credit you with any sessions still owing and a 10% discount for additional delegates. Total $ or Fax to Closing date Friday 27th of January 2006