10 FBT Tips for a Post-COVID World

Paul Hockridge uses his 30+ years of experience to share his take on FBT and how the rise in working from home has changed the game. 10 FBT tips in a post-COVID world! 

  • Cars and e-vehicles: Maximising the stat formula method

  • Taxis and ride share

  • Motorbikes and scooters

  • Eligible work related items

  • WFH and home office expenses

  • Flu jabs, counselling, and medical related items

  • Buses v trains: which could be exempt


Listen to the podcast below. Also available on Podbean and Spotify.

Got questions? Want more?

We'll be doing an in-depth interview with Paul Hockridge at our next live virtual event on Wednesday, 13 April 2022. You'll get the chance to ask Paul your questions about FBT and working from home and how it will impact your clients.

Register now

Summary

Timestamps

1:36 - Why FBT sucks
3:00 - How do other countries tax FBT
4:47 Why it's not great taxing the employer

7:54 FBT fundamentals: What's subject to FBT?

10:26 - What does 'in respect of employment' mean? What about Division 7A?

11:46 - How to save FBT on car fringe benefits

16:29 - What about second hand cars? Are there more FBT savings?

19:47 - FBT, taxis and ride sharing

22:29 - Any FBT concessions for short-term car rentals - car sharing?

23:33 - Motorbikes, push bikes and e-bikes

26:39 - How are bogan bars and FBT related?

28:59 - Eligible work related items: Portable electronic devices

32:00 - Used primarily for work

35:13 - Is a $20,000 Birkin laptop bag FBT exempt?

38:18 - Home office expenses

40:25 - Medical stuff: Flu jabs and counselling

43:14 - COVID quarantine costs

44:49 - What's 'otherwise deductible' again?

45:40 - Working from home expenses

47:29 - How does claiming WFH expense interact with the main residence exemption?

49:25 - Scooters and e-scooters

50:16 - Bus fares v train fares

53:08 - E-Vehicles: Labour policy