On Wednesday 18.5.16, the ATO released the FBT car parking threshold and the luxury car tax threshold:

  • Taxation Determination TD 2016/7 – which specifies $8.48 as the threshold commercial car parking rate that is required before an employer providing car parking is subject to FBT under s39A of the Fringe Benefits Tax Assessment Act.
  • Luxury Car Tax Determination LCTD 2016/1 – which states that the luxury car tax (LCT) threshold for the 2016-17 financial year is $64,132. (The Determination also states that the fuel efficient car limit for the 2016-17 financial year is $75,526.)

[LTN 94, 18/5/16]