Fringe Benefits Tax - 2020

Fringe Benefits Tax (FBT) is a tax payable by employers for benefits paid to their employees or their employees' family or other associates . This is separate to income tax and is calculated on the taxable value of the fringe benefits provided. The FBT year runs from 1 April to 31 March.

Trade businesses, in particular, usually have vehicles or other assets that are used by employees for private purposes. It is important for business owners to identify this usage and report to the Australian Taxation Office (ATO). 

In ATO compliance, tax planning, Compliance, FBT

Fringe Benefits Tax - 2019

Fringe Benefits Tax (FBT) is a tax payable by employers for benefits paid to an employee (or an employee's associate e.g. a family member) in place of salary or wages. This is separate to income tax and is calculated on the taxable value of the fringe benefits provided. Trade businesses in particular usually have vehicles or other assets that are used by employees for private purposes. It is important for business owners to identify this usage and report to the Australian Taxation Office (ATO). We will prepare your FBT returns for you and lodge them with the ATO.

In ATO compliance, tax planning, Compliance, FBT

Are your corporate Christmas events subject to tax?

Almost every business has an end-of-year function and/or Christmas event. You have to be careful when hosting these types of functions because Fringe Benefits Tax has a way of wedging itself between your budget and your plans. So how can you minimise the FBT on your next function and what are some of the rules regarding entertainment and food that you may have to consider?

In tax, FBT, Xmas