Car Parking Fringe Benefits Tax Liability

TR2021/2 has been released to update Taxation Ruling TR 96/26 Fringe benefits tax: car parking fringe benefits (now withdrawn) to reflect contemporary commercial car parking arrangements and legal developments including the Federal Court decisions in Commissioner of Taxation v Qantas Airways Ltd [2014] FCAFC 168 and Virgin Blue Airlines Pty Ltd v Commissioner of Taxation [2010] FCAFC 137.

The largest impact of the new ruling is the update to broaden the definition of what constitutes a commercial parking station for the purpose of assessing and calculating FBT liability for car parking.

The most practical impact of these changes is special purpose car parks such as shopping centres, hospitals, hotels and the like that were previously not considered commercial for the threshold and valuation tests.

FBTme is aligned to the most recent guidance from the ATO and continues to stay on top of developments as they are made.

FBTme can help you assess the potential exposure or benefit that may arise from the changes.

Contact Us to begin your assessment.