Fringe Benefits Tax (FBT)

At McCabe Weston Accountants we have the knowledge and experience to handle your FBT needs.  

FBT is a tax imposed on employers.  The tax targets non cash benefits provided to staff in conjunction with their employment.  If you employ staff and provide them with non cash benefits as part of their salary package you will likley be required to pay FBT.  FBT is assessed seperately to income tax.  Employers subject to FBT are required to lodge an FBT Return each year.  The FBT year commences 1 April and ends 31 March.  

Some of the more common benefits provided by employers are as follows:

  1. Motor Vehicle Benefits (company car)
  2. Expense Payment Benefits (payment of private expenses on behalf of the employee)
  3. Entertainment Benefits (provison of food, drinks, travel, recreation)
  4. Loan Benefits (low or nil interest loans)

FBT is a tax that can sometimes be overlooked by employers.  If you are unsure do not hesitate to contact our professional team.

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