• Do your employees travel a lot, live away from home or have they relocated?

A look at new ATO changes to impact on deductions and FBT.

Have you ever struggled with determining the correct tax treatment of different travel costs for your employees? Were the employees travelling on business, living away from home, or perhaps they relocated? And what did this mean in relation to the deductibility of the costs and the application of FBT?

Grant Thornton Partner, Elizabeth Lucas, was part of the ATO’s lengthy consultation process that looked at these issues and has now culminated in the release of a new draft tax ruling, Draft Taxation Ruling TR 2017/D6, which attempts to simplify these issues for employers.