From 1 April 2024, employers will have the option to rely on existing or other alternative records as determined by the Commissioner by way of legislative instrument for certain classes of fringe benefits. The instruments do not change or reduce the information employers need to hold or support their FBT return, and only alter the prescriptive format for obtaining that information. In situations w here the Commissioner is not “reasonably” satisfied that adequate alternative records are available, employers are expected to continue using existing approved forms.
