July 10, 2019

Taxi’s vs Uber’s – Are you ride-sharing to work?

Are you paying for ride sharing trips to and from work? The ATO in its wisdom has confirmed that using a ride sharing taxi ‘like’ service for travelling to and from your ordinary place of business is deemed to be providing a fringe benefit. As the FBT law stands today it only excludes the use of registered taxi’s as part of an exemption carve out for no FBT benefit to arise on such taxi trips to and from home.

Employers may still be able to apply the FBT minor benefit exemption to expenses incurred in relation to ride-sourcing vehicles, however, if it is not minor and infrequent then it may be better to switch over to using a taxi registered service. Although it may still be cost effective to use ride sharing even when considering the fact it may have FBT consequences.

The above is general in nature and does not constitute as advice. Your certain circumstances may differ and we recommend giving Tactica Partners a call to discuss on 9387 5637.

Source: Accountants Daily

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