FBT: Addendum to car parking fringe benefits ruling
The ATO has released an Addendum to TR 2021/2 (Fringe benefits tax: car parking benefits). The Addendum incorporate changes which address the concept of “primary place of employment” in light of the decision in FCT v Virgin Australia Regional Airlines Pty Ltd [2021] FCAFC 209. Note: In that case the Full Federal Court held that car parking fringe benefits were provided by the airline to its pilots and cabin crew by way of contractual arrangements with car park operators at airports for the provision of car parking spaces.
ATO’s SMSF statistics released
The ATO has released the 13th edition of its annual statistical overview on SMSFs for the 2020–21 financial year. Key statistics include the following: over 603,000 SMSFs holding $869bn in assets, with more than 1.1m SMSF members, as at 30 June 2022; SMSFs had assets of almost $1.5m on average in 2020–21, up 15% from the previous year and 25% over five years; and 64% of SMSFs have existed for more than 10 years. In addition, the ATO has included 2021–22 information for registrations, wind-ups, total populations (SMSFs and members) and their demographics, estimated total SMSF assets and asset allocation, and auditor contravention reports.
ATO: Fuel tax credits for heavy vehicles
The ATO has released information on claiming fuel tax credits for heavy vehicles with a GVM greater than 4.5 tonnes. The information deals with the following matters: fuel tax credits for heavy vehicles; travelling on public roads; travelling off public roads; powering auxiliary equipment; working out your fuel tax credits; and, records you need to keep.
