Fringe Benefits Tax (FBT)

Are you providing benefits to your employees or directors and their associates?

Benefits you may be providing to your employees (including directors) are:

  • Vehicles owned by the business, provided to directors
  • Salary packaging of cars for staff
  • Take staff and clients out for coffees and lunches
  • A Christmas party
  • Gifts to clients or to staff to reward long service or effort
  • Corporate boxes at the football
  • Entertainment cards
  • Paying private expenses for staff or directors

It’s important to ensure you are meeting your FBT obligations & are taking advantage of exemptions or concessions that can apply.

We take a proactive approach in identifying where these benefits may be being provided, help identify exemptions and concessions available, and enable you to make informed choices of benefits you wish to provide to improve staff loyalty and dedication to your business.

FBT Return Preparation

This service includes:

  • Review of your business accounts to determine fringe benefits being provided to directors and employees
  • Gathering information required to calculate the fringe benefits
  • Review of PAYG instalments (paying tax as you go through the year)
  • Where applicable other reporting items such as Fuel Tax Credits, FBT instalments
  • Preparation and lodgement of the BAS for with the ATO

This service is often provided annually to our clients, and as such our fee is estimated for you in our engagement letter.

FBT Advice

From time to time you will need FBT advice for your business whether it is about cars in your business, salary packaged expenses for your staff, paying private expenses such as accommodation, child care or entertainment or some other matter. We are always available to our clients to assist with any advice you need, so you can make informed decisions quickly and get on with business.

Our fee for these services is based on our standard hourly rates.