The FBT (Fringe Benefit Tax) year end is fast approaching, 31 of March 2017
Fringe benefit can include:
- Motor vehicles
- Other expense payments (loans repayments, child care costs, school fees and home internet and telephone costs etc).
- Salary superannuation sacrificing
These need to be recorded and included in an annual Fringe Benefits Tax return.
On a lighter note, employees, you can discuss with your employer to provide any of the FBT exempt benefits listed below, in a salary sacrifice arrangement:
- Portable electronic devices (such as a notepad or a tablet)
- Computer Software (such as Microsoft Office or any Antivirus)
- Protective work cloths
Contact us if you want to learn more about salary sacrificing for yourself or as an employer.