However, some benefits are exempt from FBT or receive concessional treatment.
Taxi travel by an employee is an exempt benefit if the travel is a single trip beginning or ending at the employee's place of work.
Taxi travel can also be an exempt benefit if it is a result of sickness or injury and the whole or part of the journey is directly between:
- the employee's place of work
- the employee's place of residence
- any other place that it is necessary, or appropriate, for the employee to go as a result of the sickness or injury.
This exemption is limited to travel undertaken in a vehicle that is licensed to operate as a taxi by the relevant state or territory. It does not extend to travel undertaken in a ride-sourcing vehicle or other vehicle for hire that do not hold such a licence.
Let Collins Hume partner with you to achieve greater business and lifestyle success as your trusted advisers. Call us in Ballina or Byron Bay on 02 6686 3000.