Fringe Benefits Tax (FBT)
Fringe benefits tax (FBT) may need to be paid when an employer provides certain benefits to their directors or employees, extending to family members and other associates.
The benefit may be in addition to, or part of, their salary or wages package.
Some common benefits are:
• Expense Payments
• Car Parking
• Meal Entertainment
• Travel Related Benefits.
FBT year runs from 1st April to 31st March each year and as 31st March is fast approaching, you need to know what to do if you are caught.
Give us a call today and speak to one of our experienced accountants to discuss your FBT obligations and strategies for this FBT year and going forward.