Fringe Benefits Tax + Advice
An important part of business + a useful way to attract quality staff!
A fringe benefit is a ‘payment’ to an employee, but in a different form to salary or wages.
Fringe Benefits Tax (FBT) is paid by employers on certain benefits being paid to their employees’ family or other associates. FBT applies even if the benefit is provided by a third party under an arrangement with the employer.
FBT is separate to income tax and is calculated on the taxable value of the fringe benefit. It is a requirement of the employer to self-assess their FBT liability for the FBT year (1 April – 31 March) and lodge an FBT return.
To find out the benefits of FBT and how we can help you and provide expert advice when it comes to claiming these deductions, download our free guide!