Fringe Benefits 2017

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What every employer needs to know about fringe benefits On 31 March 2017, the Fringe Benefits Tax (FBT) year ends. The ATO will be reviewing whether all employers who should be paying FBT are, and that they are paying the right amount. To help you meet your fringe benefits obligations, we’ve put together a list…

FBT Exemption – No Business Use Cars

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The taxable value of a car fringe benefit is usually calculated under either the statutory formula or the operating cost method. However, certain car fringe benefits are exempt from fringe benefits tax (FBT). What is FBT The ATO Website states that a fringe benefit is a ‘payment’ to an employee, but in a different form…