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How exposed are you? Zipping off FBT returns secures protection

Taxation in Australia | 1 Aug 09
 
Member Price: $22.00
Non Member Price: $28.00

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Published on 01 Aug 09 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

Many practitioners advise clients that a FBT return for a car fringe benefit is not required if the taxable value of the car fringe benefit is calculated using the cost basis. That advice creates an exposure for the practitioner. This article sets out how a practitioner can remove the exposure for years past and in the future.

Author profile

Christopher Wallis
Chris Wallis, CTA, Barrister and Accredited Mediator has over 35 years in practice. Chris’ has earned reputation for achieving satisfactory outcomes for clients in long and difficult disputes with revenue authorities by doing the “hard yards” and without having his clients enter the witness box. Day to day Chris’ work involves working with practitioners to fend off the TPB; SMSF members/directors to fend off the Regulator; and family lawyers and accountants in a relationship breakdown to trace assets and identify tax exposures. Chris provides easily read and comprehensive advice in relation to trusts or real property and is a regularly published author. Over 35 years Chris has delivered more than 150 presentations around Australia for the various professional bodies, the Australasian Tax Teachers Association, the Television Education Network, the Tax Bar Association, and the late Gordon Cooper’s Problems in Practice. - Current at 23 July 2024
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