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Fringe Benefits Tax (FBT) is paid on particular benefits employers provide to their employees or their employees' associates instead of salary or wages. Benefits can be provided by an employer, an associate of an employer, or a third party by arrangement with an employer. An employee can be a former, current, or future employee.
FBT is separate from income tax and based on the taxable value of the various fringe benefits provided. The FBT year runs from 1 April - 31 March.
The following categories of fringe benefits apply, with specific valuation properties applicable to each category:
MORE: See the ATO website for more on FBT categories.
The following are NOT fringe benefits:
You can reduce the amount of FBT you pay by:
MORE: Read more about FBT for small businesses on the ATO website.