This measure was initially announced in the 2020–21 budget. The proposed legislation gives the Commissioner of Taxation the power to modify, by legislative instrument, existing FBT record-keeping obligations to allow employers to rely on existing corporate records, rather than the employee declarations and other prescribed records, to finalise their FBT returns where the Commissioner considers the alternative records adequate.
Exposure draft legislation, Treasury Laws Amendment (Measures for Consultation) Bill 2022: FBT record-keeping, and associated draft explanatory material, have been released for public consultation.
Exposure draft legislative instruments and associated explanatory material dealing with travel diaries and relocation transport expense payments have also been released for public consultation. Interested parties are invited to provide comments.
Comments on the draft legislative instruments and associated explanatory material will be shared with the Australian Taxation Office that has developed and released this material for public consultation.
Responses to the proposed legislation can be submitted until 30 September 2022. Interested parties are invited to comment on this consultation.
While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.
All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment.
Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.
