Introduction & Outline (1:01) 

Car fringe benefits (2:51)

• How to determine if a car has been provided
• Definitions
• When benefits other than a car benefit arises
• Private use and private use issues that arise in practice

Novated leases (2:07)

• Operation of novated leases
• Working with novated leases in practice

Valuing car benefits (1:35)

• Methods of valuing car benefits
• When the various methods are used

Statutory formula (1:43)

• Statutory formula and how it applies
• Statutory formula calculations

Determining base value (0:00)

• How to calculate base value

• When the calculations are different

• What is included and excluded from the calculation

• Employee contributions

• Why it’s important to check the detail of the arrangement and what to look for

• When base value can be reduced

• How the reduction applies

• What in included and excluded from the reduction

   

• Impact of holding periods

Statutory percentage (02:22)

• Applying the statutory percentage

• Pre and post 7:30pm AEST, 10 May 2011

• Contract periods and when the post 10 May rules apply

Quiz 1 (7:17)

• Quiz 1 answer explained

Employee contributions (4:17)

• Treatment of employee contributions

• Impact on taxable value

Operating cost (5:35)

• Operating cost calculation

• Actual operating costs

• When it varies and why

• What is included and excluded from actual operating costs

• Deemed operating costs and when they are recognised

• Calculating deemed operating costs

• Deemed depreciation and the calculation

Private usage (2:32)

• Logbook usage and the stringent requirements

• Calculating private use

• When adjustments are required

Logbooks (1:43)

• Use of logbooks

• When they are required

• Use of elections

Nature of travel (3:06)

• The nature of travel – what the law says
• General rules
• Exceptions in detail

Quiz 2 (6:33)

• Quiz 2 explanation

Vehicles that are not cars (1:56)

• What happens when a vehicle is not a car

• The fringe benefit implications and how to manage them

• Exemptions

• Calculating taxable value

Exempt motor vehicles (8:33)

• Working with exempt motor vehicles
• Warning on ATO activity and what to look out for
• Exemptions and how they apply
• Exemption conditions

• Correctly identifying eligible exempt motor vehicles
• The steps and requirements
• How to determine if a vehicle is designed to carry passengers
• The legal expectations of exempt motor vehicles

PCG 2017/D14 and the safe harbour guidelines (5:27)

• The safe harbour guidelines for exempt car and residual benefits
• When the safe harbour applies
• What is required to qualify for the safe harbour – the conditions in detail

Entertainment (11:33)

• Types of entertainment and the likely FBT implications
• Meal entertainment benefits
• Tax-exempt body entertainment benefit
• Definitions and how the law applies

• Common scenarios and examples
• Issues to be aware of
• What exemptions apply and when

• Entertainment exceptions

Valuing meal entertainment (4:20)

• Calculating the taxable value of meal entertainment

• Special meal entertainment methods

• Application of the 50-50 split method

• Application of the 12-week register method

• Validity

Quiz 3 (6:46)

• Quiz 3 explanation

Otherwise deductible rule (9:46)

• Nature of the otherwise deductible rule
• Definitions
• The process where only some of the expenditure would have been immediately deductible

Quiz 4 (5:16)

• Quiz 4 explanation

Otherwise deductible rule and car expenses (1:55)

• How the otherwise deductible rule applies to car expenses

Minor benefits (3:52)

• Minor benefit criteria
• Why the bigger picture needs to be taken into account

Quiz 5 (7:15)

• Quiz 5 explanation