The Fringe Benefit deadline is March 30th.
Fringe Benefit deadline March 30th. However, it can be quite a complex issue and if we can help you in any way then please click here and ask.
One of the reasons for the complexity other than general confusion and changing regulations is how many types of FBT there are. Also Fringe Benefits Tax (FBT) law includes various categories of fringe benefits and specific valuation rules for each category. The list below outlines what needs to be considered.
You will need to pay FBT even if the benefit is provided to an associate of your employee or by a third party under an arrangement with you.
Benefits that attract FBT are:
- Car fringe benefits
- Car parking fringe benefits
- Entertainment and fringe benefits
- Expense payment fringe benefits
- Loan fringe benefits
- Debt waiver fringe benefits
- Housing fringe benefits
- Board fringe benefits
- Living away from home allowance fringe benefits
- Property fringe benefits (including property, goods or shares)
- Residual fringe benefits (benefits not covered by the above categories)
If you have any questions then please don't hesitate to contact us on either (07) 4796 0888 (Aitkenvale Office) or (07) 4723 1411 (Kirwan Office) or use our feedback form here.