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Employers prepare for March FBT deadline Posted on March 15, 2022
Employers who are registered as a Fringe Benefits Tax (FBT) payer must complete paperwork for the ATO this month. Those who have an FBT liability are required to take further action, and lodge returns and pay by 23 May.
Different types of benefits can include employer-provided vehicles and parking, entertainment and meals, interest-free or low-rate loans, reduced rent housing, school fees and more.
The ATO said some items provided in response to COVID may be subject to exemptions and concessions, such as equipment to set up working from home, emergency accommodation, food and transport.
There are also special provisions for emergency healthcare, incentives for vaccination and COVID tests.
The ATO has indicated that the lodgement date may vary if filing via tax agents.
To discuss your FBT liability and your business tax structures, please book an appointment with our helpful tax agents by emailing [email protected]