If know more about read out this post, As the 2024 fringe benefits tax (FBT) period approaches, it’s essential to note key dates and obligations.

1. It’s 2024 fringe
benefits tax (FBT)
time!

2. As the 2024 fringe benefits tax (FBT) period
approaches, it’s essential to note key dates and
obligations. Employers who have provided fringe
benefits to their employees or their associates between
April 1, 2023, and March 31, 2024, are required to
lodge and pay their 2024 FBT returns promptly.
Notable dates to remember include:
The conclusion of the 2024 FBT year on March 31,
2024.

3. The deadline for lodging FBT returns and settling any
outstanding liabilities to avoid penalties and interest is
May 21.
For electronic lodgments through tax practitioners, the
due date for lodging and payment is June 25.
Employers new to lodging with a tax practitioner must
ensure inclusion on their FBT client list by May 21 to be
eligible for the June lodgment and payment timeline.

4. Even if no FBT return is necessary, registered employers
must inform the Australian Taxation crucial, the ATO
recognizes exceptional circumstances and encourages
proactive communication for those experiencing
difficulties. For further assistance, refer to the ATO’s
support resources.Office (ATO) by the due date of their
intended return submission. While timeliness is

5. Additionally, new FBT rate tables for the period ending
March 31, 2025, have been introduced, providing
clarity on rates for various items such as motor vehicles
and reasonable food and drink amounts. For
comprehensive rate details, visit the ATO’s dedicated
page.

6. In other developments, adjustments have been made
to the Real Estate Award concerning excess travel time.
These changes clarify when employees are entitled to
compensation for travel time exceeding their typical
commute to their employer’s business premises.
Notable points include:
Compensation for additional travel time beyond the
norm is treated as time worked, with employees
receiving ordinary or overtime rates where applicable.

7. Employees utilizing their vehicles are entitled to the
relevant motor vehicle allowance.
For example, if an employee is required to attend a
client’s home for work, any excess travel time beyond
their usual commute is compensated accordingly. This
ensures fairness and adherence to employment
regulations.
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