FBT (Fringe Benefits Tax) is a tax imposed on employers who provide additional benefits that supplement an employee’s and their associate’s income.
If you provide individual employee fringe benefits that exceed $2,000 within the FBT year or you have provided a motor vehicle (or car) to an employee, you must lodge an FBT return.
The FBT (fringe benefits tax) year runs from 1 April to 31 March. If you have an FBT liability during this period, you must lodge an FBT return no later than 21 May.
A qualified accountant can advise you on the best record-keeping practices of FBT to ensure that you meet your FBT obligations as well as methods to reduce your FBT liability.
Also, Avail Accountants can prepare and lodge your FBT return for you, even with concessions on lodgement dates for any last-minute returns.
