FBT and Ride Sharing Travel

In July 2019 we wrote about the Tax Anomalies surrounding Taxi and Ride Sharing vehicle travel.  

We are pleased to announce that the Government has listened to the public and the Treasury has issued exposure draft legislation which proposes to extend the FBT exemption for travel between home and work to ‘any vehicle used for taxi travel’ with the intent of including ride sharing vehicles. Unfortunately, the exposure draft, if enacted could result in the new exemption only applying part way through the FBT year, potentially causing confusion and more record keeping requirement. 

Mazars has put in a submission to the Treasury to recommend changes commence from the start of the FBT year.  We will continue to keep our clients informed of these rules.

If you have any questions regarding the FBT please speak to your usual Mazars advisor or alternatively our tax team on:

Published: 18 September 2019

Please note that this publication is intended to provide a general summary and should not be relied upon as a substitute for personal advice.

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