Fringe Benefits Tax Compliance Cost Review
In February 2018, the Australian Government wrote to the Board of Taxation requesting that the Board conduct a comprehensive review of the compliance costs associated with obligations under Fringe Benefits Tax (FBT) legislation. The Board will also examine the approach in comparable countries to the taxation of fringe benefits provided by employers to their employees. As part of the review, the Board is conducting a number of research initiatives to estimate and identify reasons for compliance costs.
The Board is intending to provide its advice and recommendations on compliance cost improvements to the Government in early 2019.
The Board has appointed Board member, Mrs Rosheen Garnon, to lead the work on this review. Mrs Garnon is assisted by a number of other Board members including Ms Karen Payne (CEO) and Mr Neville Mitchell. In addition, the Board has formed a working group made up of representatives from the Australian Taxation Office, Treasury, academia and the G100.
The Board is currently undertaking a number of research initiatives. Further details are outlined in the table below.
The Board encourages all relevant stakeholders to participate in our research initiatives where possible. Your participation will help the Board formulate its recommendations by identifying areas where we can reduce the cost associated with complying with their FBT obligations.
Online Surveys: The online surveys for taxpayers and tax advisers have now closed. Thank you to those who participated in the survey. Your feedback will help the Board make recommendations to Government on ways to make it easier for you to meet your FBT obligations. The Board will use the results from the surveys to prepare a report for Government. Publication of the Board’s report is generally a matter for Government.
Case Study Interviews with employers will be conducted to gain an in-depth understanding of the compliance costs they experience; what drives these costs and what could be done to reduce these costs.
Focus Groups for the design of the survey are now completed. Thank you to those who participated. These groups provided feedback on the design of the online surveys and questions proposed to ensure they are appropriate and on point.
For further information about the Board’s work on FBT compliance costs, please contact the Board of Taxation Secretariat at email@example.com or 02 6263 4366.