The ATO, on Wed 30.10.2013, issued Class Ruling CR 2013/77 (FBT: rewards received by an employee under the LM High Flyers incentive program). The Ruling applies to employers, appointed under an agreement with Toyota Motor Corporation Australia Limited to be authorised dealers, who enable employees to participate in the LM High Flyers incentive program (the LM High Flyers program). According to the Ruling, the provision of frequent flyer points to an employee under the LM High Flyers program will be a property benefit as defined in s 136(1) of the FBTAA. It applies from 1 April 2012.
[LTN 210, 30/10/13]