MWL FINANCIAL GROUP
SECTION – TRADIES
SUBJECT – FBT
Hi I'm Barbara Keating, Accountant and small business specialist at MWL Financial Group.
Did you know that providing certain benefits in place of salary or wages to your employees and their associates will attract Fringe Benefits Tax (FBT)?
There are various types of benefits that can fall under the FBT regime, however, the most commonly provided fringe benefits are motor vehicles, car parking, entertainment and living away from home allowances.
If you provide any of these benefits to your employees and their associates, you may be required to lodge a FBT return.
Some benefits are exempted from the FBT regime, or receive concessional treatment. This generally applies to very minor benefits and some Non-Profit organisations.
If you are unsure of whether the benefits you provided to your employee and their associates may be subjected to the FBT, or if you would like to know more information about the FBT, contact us and one of our experts will be more than happy to help.
For more information contact us at firstname.lastname@example.org and either me Barbara Keating or one of our experts will be more than happy to help.