Travel arrangements and FBT on travel
There have been changes to the travel diary required to be completed by staff who travel internationally or for domestic travel greater than 5 days.
In accordance with the Travel Procedure Policy 000787 all travellers are to use the University's approved travel diary for the purpose of maintaining records of all international journeys and domestic journeys of more than five days duration.
The travel diary has been modified to include the following changes:
- Cost collector or funding source to be entered
- Supervisor to sign off all travel diaries
- Travel category has been added for the reasonable private component where it is impractical for staff to return home between multiple business activities.
Enter the Trobexis travel system requisition number and drop down function on second page of travel diary where staff are to select travel category for automation of travel summary.
Overview of travel and Fringe Benefits Tax (FBT)
Financial Services have drafted a document outlining guidelines to FBT on travel events that have a dual purpose with a business and private component (such as approved annual leave, long service leave).
The key points to mention in the guideline include:
- A travel benefit may arise when the University pays for all or part of an employee's personal travel costs where the travel event has a dual purpose
- Travel benefits give rise to FBT which can almost double the costs
- FBT is calculated based on information about the travel event contained in the travel diary
- Travellers are required to contribute an amount to reduce the FBT on the personal travel costs to $nil
- Limited exceptions are available for reasonable private travel.