How to apply the right tax treatment & avoid ATO scrutiny
Deductions under ATO scrutiny FBT & how to get the tax treatment right Ride-sourcing services & the importance of keeping records
The ATO has recently confirmed that it will be increasing its focus on the deductions claimed by individual taxpayers. This is likely to mean that claims for car and other motor vehicle expenses will come under closer scrutiny than they have in previous years. On top of this, the ATO has indicated that it will be also be looking closely at the FBT treatment of cars and other motor vehicles provided to employees as there are a number of issues that the ATO is concerned about.
The issue of car expenses also needs to be considered in more detail when clients are involved in the provision of ride-sourcing services. The ATO has issued some guidance in this area which demonstrates the importance of good record keeping habits.
Recorded 10 May 2019
What we cover
This practical webinar covers:
Tricks and traps when applying the cents per kilometre and log book methods
The trips that can and can’t be deducted by clients providing ride-sourcing services
What the ATO expects of clients who use utes and other commercial vehicles for work or business
Different ways of structuring salary packaging arrangements involving motor vehicles
When clients do and don’t have to apply the luxury car limit for depreciation and GST purposes, and
The different rules that apply to chattel mortgages, hire purchase arrangements and luxury car leases.
Our Presenter
Michael Carruthers
Tax Director, Knowledge Shop
Michael oversees the development of the tax team for Knowledge Shop and Hayes Knight in Sydney and is head of the Hayes Knight group’s national tax committee.
Michael has a knack for seeing through the complexity and helping practitioners work through highly technical issues with certainty and accuracy
Michael is a member of the advisory panel for the Board of Taxation and is a member of the reference group for the Board’s review of small business concessions. He was also an expert panel member for the Board’s review of tax impediments facing small business.
Michael Carruthers
Tax Director, Knowledge Shop
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