Links to ATO publications issued to improve taxpayers understanding of their processes and practices.
Lodgement program (ATO website)
Commonwealth legislative amendments to the motor vehicle statutory formula method apply to all new vehicle arrangements from 10 May 2011. In particular, the new statutory formula fraction of 20% is to be implemented over a transitional period.
The Australian Taxation Office has prepared a comprehensive analysis of these legislative reforms to the statutory formula determination of the taxable value of car fringe benefits in FBT legislation. The ATO's views were provided in the minutes of the August meeting of the National Taxation Liaison Group (NTLG), comprised of representatives of industry professional groups and the ATO - ATO analysis of new car statutory forumla method (ATO website)
In particular, the ATO analysis focuses on the following aspects of the legislative reform: