This course is current for the 2022-23 FBT year. This practical course will provide you with an overview of car fringe benefits, car parking fringe benefits and the impact of fringe benefits tax (FBT) on effective salary packaging and sacrificing arrangements.

Key topics:

• Introduction to FBT
• Key provisions
• Car fringe benefits
• Car parking fringe benefits
• Salary sacrificing arrangements/salary packaging
• Interaction of FBT with income tax and GST
• FBT administration

This course consists of one online course, a downloadable PDF learning manual and one online assessment.

Learning objectives

At the conclusion of the course, you should be able to:

• Calculate the reportable fringe benefits amount to be included in an Income Statement.
• Determine whether a car fringe benefit has been provided.
• Demonstrate an understanding of how the provision of leased vehicles affects the calculation of the taxable value of a car fringe benefit.
• Determine whether a car parking fringe benefit has been provided.
• Calculate the taxable value of a car parking fringe benefit.
• Determine which car parking fringe benefits are exempt. 
• Calculate the number of car parking fringe benefits using either the actual method, the 12-week register method or the statutory formula method.
• Calculate the taxable value of car parking fringe benefits using either the commercial car parking station method, the market valuation method or the average cost method.
• Demonstrate an understanding of the benefits of packaging non-cash benefits as part of a salary sacrificing arrangement.
• Determine which fringe benefits are best to include in a package.
• Determine when an arrangement is an effective salary sacrifice arrangement.