entertainment leasing facility fbt

For more on entertainment facility leasing expenses, refer to section 14.12 of Fringe benefits tax and entertainment. The entertainment facility leasing expenses that are exempt from FBT for these purposes can be incurred by you or your employee. A … For FBT purposes a “car” is: • any motor-powered road vehicle (including a 4 wheel drive) that is designed to carry: • less 1 tonne; and • fewer than 9 passengers. This cap is available to employers able to access an FBT exemption or rebate for the FBT year ending 31 March 2017 and subsequent years. The due dates for lodgment of 2019 FBT returns for all tax agents are 25 June if the return is lodged electronically. However, this outcome does not extend to other than meal entertainment (e.g. from FBT when provided by public benevolent institutions, public and not-for-profit hospitals, ambulance services (where the benefits are provided to employees predominantly involved in the provision of ambulance services) and health promotion charities. entertainment by recreation). In the past these types of employers could provide an unlimited amount of Meal Entertainment to employees without incurring any FBT liability. FBT Checklist 2021 FBT Checklist 2021 CAR FRINGE BENEFITS Y/N Does a car fringe benefit arise? In a 2015 Federal Budget measure which targets Not For Profits, from 1 April 2016 a grossed-up cap of $5,000 applies to the amount of salary-sacrificed ‘meal entertainment’ and ‘entertainment facility leasing expenses’ which qualify for the FBT exemption or the rebate (depending on the type of employer). Cap on packaged entertainment. Previously, meal entertainment and entertainment facility leasing benefits were excluded from reporting requirements for FBT. Entertainment Facility Leasing Note: as the above benefits are FBT Exempt, the benefits are eligible to be claimed over and above the relevant capping thresholds and are not required to be reported on PAYG Payments Summaries. The FBT treatment of meal entertainment and entertainment facility leasing expense benefits has been reviewed by a number of different inquiries and some changes were bound to eventuate. Contact one of our Tax Specialists for more information on salary packaged entertainment benefits. Remember that Entertainment Benefits fall under Fringe Benefit Tax (FBT) law. benefits where the taxable value is wholly or partly attributable to entertainment facility leasing expenses. Were any vehicles provided to employees (or associates) during the FBT year? If you have an FBT liability (also known as a fringe benefits taxable amount) for the FBT year ending 31 March 2019, you must lodge an FBT return by 21 May 2019. A separate single grossed-up cap of $5,000 applies to fringe benefits that are salary packaged meal entertainment and entertainment facility leasing expenses. Where meal entertainment or entertainment facility leasing expenses have been salary From 1 April 2016 all salary packaged entertainment benefits (including entertainment facility leasing), will be reportable benefits. The FBT year commences on 1 April and ends 31 March. And so, there it is, s. 57A employers do not have an FBT liability on non-salary packaged meal entertainment. Entertainment facility leasing expenses . … Meal Entertainment; Entertainment Facility Leasing; Note: as the above benefits are FBT Exempt, the benefits are eligible to be claimed over and above the relevant capping thresholds and are not required to be reported on PAYG Payments Summaries. This effects rebateable and FBT exempt employers. On 1 April 2016 the government introduced a $5,000 grossed-up cap per employee for salary sacrificed Meal Entertainment and Entertainment Facility Leasing Expenses. Entertainment Facility Leasing is an Exempt fringe benefit if you are employed by a public benevolent institution (PBI), health promotion charity (HPC), public hospital, non-profit hospital or a public ambulance service. These dates are important as you need to make sure that you spend your allocated funds before the end of the FBT year.

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