FBT car parking threshold for 2011-2012 FBT year

Jun 02, 2011


Here is one of those annoying little thresholds that I seem to take forever to find each year when I am doing FBT returns ...

The fringe benefits tax car parking threshold for the FBT year commencing 1 April 2011 is $7.71. This replaces the amount of $7.46 that applied in the previous year commencing 1 April 2010.


The new threshold is set out in Taxation Determination TD 2011/14, entitled "Fringe benefits tax: for the purposes of section 39A of the Fringe Benefits Tax Assessment Act 1986 what is the car parking threshold for the fringe benefits tax year commencing on 1 April 2011?", which was issued by the ATO on 25 May 2011. The threshold is indexed annually.



Tags: Company tax, Employers, FBT, Small Business, Travel

Author: Mr Taxman

Comments

Post a New Comment

comments-rhsLatest Comments

  • "Yes you show the km allowance as taxable income and then you can also make a claim for your car travel. Under the cents per kilometre method you are limited to the first 5000km. So if you get..."

    By: Mr Taxman at Jun 04, 2025 11:57PM

    Post: Claiming car expenses

  • "No would not be able to claim the Uber home nor to the station the next day. The trip to the off-sit meeting would be claimable."

    By: Mr Taxman at Jun 04, 2025 11:55PM

    Post: Claiming car expenses

  • "Depends on your finance type ... if you takeout a lease then the lease payment forms part of your costs (but no depreciation can be claimed) ... if you takeout a Hire Purchase or a Loan then only the..."

    By: Mr Taxman at Jun 04, 2025 11:54PM

    Post: Claiming car expenses

  • "The cost of the trailer itself could be depreciated - usually over 8 years. Assuming no personal usage with it then 100% of that depreciation plus annual rego could be claimed."

    By: Mr Taxman at Jun 04, 2025 11:50PM

    Post: Claiming car expenses

  • "That would be a non-deductible trip unfortunately Erin"

    By: Mr Taxman at Jun 04, 2025 11:48PM

    Post: Claiming car expenses