Perspective
Fringe benefits tax – Record keeping changes – 13 September 2022
Tax insights
On 9 September 2022, the Government has released a series of exposure drafts designed to simplify FBT record keeping for employers who maintain good corporate records. The proposed legislation and regulations will give the Commissioner the power to modify, by legislative instrument, existing FBT record-keeping obligations. This will allow employers to rely on existing corporate records where the Commissioner considers the alternative records adequate, instead of existing employee declarations and other prescribed records.
