How the ATO identifies potential FBT audits

The table below outlines the key tax return labels that can alert the ATO that an employer may have some FBT exposure. DISCLOSURE ITEM / RETURN LABEL FBT RISK Fringe benefit employee contributionsItem 6, Label I of the ‘C Return’Item 46, Label T of the ‘T Return’ The disclosure of income at this label confirms …

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Are Christmas gifts & your company Christmas party tax deductible?

We’re approaching the season of giving – but do you have to give to the ATO? Or are Christmas gifts & the company Christmas party tax deductible? Find out …

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