2018 Fringe Benefits Tax – What Every Employer Needs To Know

 In News

On 31 March 2018, the Fringe Benefits Tax (FBT) year ends.

With the ever increase budget deficits, the ATO will be reviewing whether all employers who should be paying FBT are, and that they are paying the right amount.

To help our clients meet their fringe benefits obligations, we’ve put together a list of essentials every employer needs to know about FBT and review every year, such as:

  • Should I be registered for FBT?
  • What information do I need to give my accountant?
  • What changes to the FBT rates came into effect on 1 April 2017?
  • What is exempt from FBT?
  • How can I reduce my FBT liability?
  • What are the new safe harbour provisions for ‘Workhorse Vehicles’?
  • Are the benefits I pay my employees minor and infrequent?
  • Do I need to review our salary sacrifice agreements

We will shortly be sending out our 2018 FBT Questionnaire and 2018 FBT schedules for the period 1 April 2017 to 31 March 2018.

Please contact us on 1300 832 622 if you would like any further information or wish to discuss your FBT obligations.

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