by Team Garnet | Mar 6, 2024 | ATO, Business Structures, Tax News
With the rise in businesses purchasing EVs for the use of their employees, the ATO has finalised its guidelines setting out the methodology for calculating the cost of electricity. Since the introduction of EV incentives by various state governments to encourage the...
by Team Garnet | May 1, 2023 | ATO
The ATO has released a draft compliance guideline with the accepted rate for calculating the cost of electricity when an eligible EV is charged at an employee’s or an individual’s home. The draft compliance guideline contains the methodology for calculating the cost...
by Team Garnet | Apr 14, 2023 | ATO
For the 2022-23 FBT year, your business may be able to receive an FBT exemption for certain eligible electric cars and associated car expenses. For the 2022-23 FBT year (1 April 2022 to 31 March 2023), your business may be able to receive an FBT exemption for certain...
by Team Garnet | Aug 5, 2022 | Small Business, Tax News
An employee’s private use of an electric car provided by an employer may soon be exempt from FBT if newly introduced legislation passes Parliament. During the 2022 election campaign, Labor announced its Electric Car Discount policy in order to make electric cars...
