The Tax Office on Wed 26.3.2014, released 4 TDs dealing with FBT rates, thresholds, etc for the 2014-15 FBT year (ie the FBT year commencing on 1 April 2014).
- TD 2014/3: the indexation factors for valuing non-remote housing are: NSW – 1.037; Vic – 1.020; Qld – 1.022; SA – 1.024; WA – 1.067; Tas – 1.010; ACT – 1.017; and NT – 1.076.
- TD 2014/4: the record-keeping exemption threshold is $7,965.
- TD 2014/5: the benchmark interest rate is 5.95% pa.
- TD 2014/6: the rates to be applied on a cents-per-km basis for calculating the taxable value of a fringe benefit arising from the private use of a motor vehicle other than a car are: 0-2500cc: 50 cents/km; Over 2500cc: 60 cents/km; and Motorcycles: 15 cents/km.
[LTN 58, 26/3/14]