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Make Fringe Benefit Tax work for you
The Fringe Benefit Tax (FBT) laws have changed a lot over the last few years and as an employer it can be hard to keep up. At Rogerson Kenny Business Accountants our dedicated team of accountants stand ready to show you how to work the Fringe Benefit Tax in a way that's beneficial to and your employees.
Fringe Benefit Tax in Australia applies to various categories and each one has specific requirements attached. The most common categories are:
- Car fringe benefits
- Loan fringe benefits
- Debt waiver fringe benefits
- Expense payment fringe benefits
- Housing fringe benefits
- Board (meal) fringe benefits
- Airline transport fringe benefits
- Living-away-from-home allowance fringe benefits
- Entertainment provided by a tax-exempt organisation
- Meal entertainment fringe benefits
- Car parking fringe benefits
- Property fringe benefits
- Residual fringe benefits
Don't pay too much
There are ways that you, as an employer, can reduce the amount of Fringe Benefit Tax you pay. Can you replace fringe benefits with cash salary? Or provide benefits that are exempt from Fringe Benefit Tax? We can help you with tailored solutions to suit your specific needs.
Contact us today and see how we can help you:
- Review your Fringe Benefit Tax obligations.
- Stay up to date with changes in legislation.
- Prepare and review your periodic and annual Fringe Benefit Tax returns.
- Implement and review your salary packaging arrangements.
- Prepare and manage ATO reviews or audits.
- Structure your finances considering how Fringe Benefit Tax interacts with other taxes.