FBT Archives - AdviceCo. https://adviceco.com.au/tag/fbt/ be better off. Mon, 08 May 2023 01:51:19 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 https://adviceco.com.au/wp-content/uploads/2020/01/Favicon-150x150.png FBT Archives - AdviceCo. https://adviceco.com.au/tag/fbt/ 32 32 How to eliminate FBT on your company car https://adviceco.com.au/how-to-eliminate-fbt-on-your-company-car/ Fri, 13 Jan 2023 04:04:30 +0000 https://adviceco.com.au/?p=18386 How to eliminate FBT on your company car? Are you sick of paying as much as $9,000 fringe benefits tax (FBT) on your company car each year? There is a solution. The Government is exempting FBT on all electric cars and plug in hybrids, purchased after 1st July 2022. The purchase price must be less…

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]]> Tax and super rules for the festive season https://adviceco.com.au/hiring-for-xmas-and-summer-planning-a-xmas-party-for-your-team-be-aware-of-new-tax-and-super-rules/ Sat, 12 Nov 2022 00:38:18 +0000 https://adviceco.com.au/?p=18289 Small businesses gearing up to hire Christmas and summer casuals for what (we hope) will be a prosperous peak period, or who wish to celebrate without restriction this festive season, must keep the new super and tax rules in mind. Summer casuals – Employers are now required, as of 1 July 2022, to pay their…

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]]> Employers prepare for March FBT deadline https://adviceco.com.au/employers-prepare-for-march-fbt-deadline/ Tue, 15 Mar 2022 05:21:03 +0000 https://adviceco.com.au/?p=17811 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…

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]]> FBT – why all business owners need to report in May https://adviceco.com.au/fbt-why-all-business-owners-need-to-report-in-may/ Thu, 22 Apr 2021 10:36:32 +0000 https://adviceco.com.au/?p=16996 Fringe Benefits Tax (FBT) is often a grey area of tax for businesses, albeit quite black and white for the ATO. It is not an optional payment or reporting responsibility. All businesses with employees are required to review and report Fringe Benefits paid up to 31 March to the ATO by 15 May. It is…

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