With the recent passing of the legislation to reduce FBT compliance costs for employers, employers can soon use appropriate alternative statutory evidentiary documents to satisfy FBT record-keeping requirements. From 1 July 2023, employers will have the option to rely on existing or other alternative records as determined by the Commissioner by way of legislative instrument. The legislation does not change or reduce the information employers need to hold or support their FBT return, and only alters the prescriptive format and processes for obtaining and holding that information.
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