Fringe Benefits Tax Returns
A fringe benefit is a ‘payment’ to an employee, but in a different form to salary or wages.
What is a Fringe benefit?
A Fringe benefit is a benefit or “payment” made to an employee other than salary/wage. A fringe benefit can be:
- Gym membership/parking fee paid by employer
- Discounted loan
- Using work vehicle for private purposes
- Entertainment expenses provided by employer such as free tickets to concerts
Fringe benefit tax us paid by employer and is sperate to income tax. The employer must self-assess their FBT liability for the FBT year (that is, 1 April to 31 March) and lodge an FBT return.
Our team can streamline the FBT process by helping you:
- Understand the FBT provisions.
- Comply with your obligations.
- Access available exemptions.
- Liaise with the Australian Taxation Office on FBT related matters.