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Electric Vehicles & Tax Webinar

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Getting electric cars right - the calculations, deductions, and tax implications in practice

The concessions and tax implications in practice
How to calculate deductions for electricity costs
Latest ATO guidance on the FBT exemption for electric cars
Charging stations, luxury car tax and other key issues

A Live Instructor Led Webinar

The take-up of electric vehicles in Australia has increased exponentially in recent years creating a number of new tax issues for clients and their advisers. Until recently, there has been a lack of clear guidance but this has started to change.

The Electric Vehicles & Tax webinar covers the key tax issues that need to be considered when clients are thinking about buying or leasing an electric vehicle. We look at the detail of how the brand new ATO shortcut method for calculating electricity costs for charging an electric vehicle works in practice and the records that need to be kept in order to stay under the ATO’s radar.

We also look at the latest guidance and emerging issues relating to the FBT exemption for electric cars. As clients continue to explore opportunities for salary packaging electric cars in a tax-effective manner, it is important for advisers to be across the detail to ensure that these arrangements provide clients with the best possible tax outcome.

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AU $195 members
AU $235 non-members

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Register Team*

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AU $520 members
AU $595 non-members

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Total 1.5 CPD Hours

Details

Recorded: 11 May 2023

FAAA accredited for 1.5 CPD hours (30851)

  • 1.5 Tax (financial) advice

Terms & conditions: All registrations to Knowledge Shop events are subject to our terms and conditions which include a cancellation policy. No refunds are provided for cancellations received 1 day prior to the webinar. No credits are available less than 2 hours prior to the event under any circumstances.

*Office Registrations. Maximum 15 participants per firm (must have same email domain). The PD points for all attendees will be recognised and links will be provided to all attendees.

What we cover

This practical webinar covers:

What's included?

  • 1 x 1.5 hour webinar
  • 3 month access to Q&A embedded webinar recording
  • Reference notes
  • Who can use the ATO’s new shortcut method for calculating home electricity costs relating to an electric vehicle
  • Clients and vehicles that don’t qualify for the shortcut method and the practical impact of missing out
  • Records that need to be kept to use the shortcut method and the ATO’s transitional approach
  • Conditions that must be satisfied to access the FBT exemption for electric cars
  • How to determine whether a lease arrangement is a ‘bona fide lease’ for FBT purposes
  • Calculating reportable fringe benefits, even if the FBT exemption applies
  • FBT issues that arise when an employer provides a home charging station
  • How to determine whether luxury car tax applies to an electric vehicle

Our presenter

Tax Director, Knowledge Shop

Michael Carruthers

Michael CarruthersMichael is an adviser, author, in demand presenter, mentor to Knowledge Shop’s technical team, and is well known for his capacity to translate highly technical information into tangible and useable advice for the profession. He has a knack for seeing through the complexity and helping advisers work through highly technical issues with certainty and accuracy.

Michael works with advisers every day to help them negotiate and implement the constant tide of change impacting the industry. He was a member of the advisory panel for the Board of Taxation and was a member of the reference group for the Board’s review of small business concessions.

He was also an expert panel member for the Board’s review of tax impediments facing small business.