The electric vehicle FBT exemption allows Australian employers to provide certain electric cars for employee private use without paying Fringe Benefits Tax (FBT), provided specific eligibility conditions are met. Employers should first check vehicle purchase records, the luxury car tax threshold, lease agreements and employee benefit arrangements to avoid incorrect reporting.For businesses considering electric vehicles,…
Day: October 15, 2026
Discretionary Trading Trust: What Records Should Support Trustee Resolutions and Beneficiary Entitlements?
A Discretionary Trading Trust needs accurate financial records, trustee resolutions and beneficiary entitlement details to support how business profits are distributed. Without proper documentation, trustees may struggle to demonstrate that income distributions follow the trust deed and Australian tax laws, creating avoidable compliance concerns. Understanding the trust structure, maintaining reliable bookkeeping and recording each distribution…
