Fringe Benefits Tax

Here you will find information relating to Fringe Benefits Tax.

Tax and Christmas party planning

Christmas will be here before we know it, with smarter business owners already planning their end-of-year festivities. Celebrating the season can be team-building or just a bit of fun, but the well-prepared business owner will also know that a little tax planning can help make sure there’s no unforeseen tax problems. The three benefits typically […]

Small business car parking FBT exemption

A business becomes liable for fringe benefits tax where it provides car parking benefits in the form of a car parking facility for more than four hours on its premises to its employees, and the relevant car parking facility is situated within one kilometre of a commercial car park where the minimum all day cost […]

FBT and cars – a perennial head-scratcher

The provision of cars by employers to employees remains an issue that continues to create confusion for some business taxpayers. A not-uncommon situation is where the employer fails to identify that a car fringe benefit has been provided. This is typically found in family companies or trusts where a car bought by the business is […]

Novated leases explained

Wrapping a car into a salary package is a very popular choice, and doing so as part of a salary sacrifice arrangement often raises the topic of novated leases. What’s a novated lease? Simply put, a novated lease is a way for an employee to buy a new or used car and have their employer […]

FBT exemptions under the radar

Providing fringe benefits goes hand-in-hand with the task of retaining good and loyal employees as well as attracting new talent for your business. However the types of benefits provided can sometimes relieve the compliance headache. Now that we have entered into the new fringe benefits tax year (which began on April 1), business owners are […]

Employers: Beware “left-field” FBT liabilities

It is generally understood that for fringe benefits tax (FBT) to apply, the benefits paid are usually in respect of an employment relationship. Where some businesses have tripped up in the past however is where this relationship is not clear cut — that is, where non-cash components of remuneration are sourced not directly from you […]

Save health (and tax) with a salary-sacrificed e-bike

Salary sacrificing a “company car” is a pretty popular option offered to employees. However, you may not be aware that there is also a tax and health incentive with another particular set of wheels. Why don’t you consider channelling your inner “mamil” (middle aged men in lycra) and package up an electrically assisted bicycle (e-bike) […]

5 tips to a tax-free Christmas work party

Christmas will be here before we know it, and it is likely that better organised employers will already be thinking about their yuletide preparations. But while you should feel free to pop a champagne cork or three for your employees, make sure that you don’t get the tax hangover; particularly with fringe benefit tax and […]

FBT — your business basics – March 2015

If you own a business that employs staff, and provide remuneration to your employees in a form other than straight salary, you may be up for fringe benefits tax (FBT). The upside for your workers is that they do not then have to pay income tax on the value of the benefits provided to them. […]

FBT – fears, cheers and changes – March 2014

The current FBT year is just wrapping up, and it has been a period of potential turmoil with the proposal to scrap the statutory formula method for calculating car benefits. However not long after this landed on the legislative table it was swept off it again by the current government. So the status quo remains […]