FBT exemption for FIFO workers
Posted on: 21/03/2011
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FBT exemption for fly-in/fly-out arrangements: ATO admin treatment |
The Government has announced that it intends to introduce legislation to extend the FBT exemption for travel between home and work sites for fly-in/fly-out employees working overseas, and their employers. Draft legislation was recently released.
The ATO says it will accept tax returns as lodged during the period up until enactment of the legislation. Assessments will be processed in accordance with the existing law. Once the new law is enacted, the ATO says affected employers and taxpayers will need to review their positions.