FleetDrive 23 - June 2020 | Page 17

FLEETDRIVE Automate your FBT obligations Fringe benefits tax compliance is still a highly manual process in many organisations. The review of internal general ledger, payroll, expense system data and thirdparty information is often a time consuming and arduous process. The demanding time pressures surrounding the FBT return lodgement take a toll on resources and the organisation’s competing priorities. Utilising tax tools such as KPMG's FBT Automator can help make your FBT return preparations a whole lot easier. Manage your deductions Are you always on the go? Save time and keep your tax organised with the myDeductions tool in the ATO app. myDeductions is a record-keeping tool to make it easier and more convenient for you to keep track of your records all in one place. You can use the myDeductions tool to upload your completed records to the ATO and to pre-fill your myTax return. ISSUE 23 2020 / WWW.AFMA.ORG.AU 17