FBT is a tax that employers pay for benefits paid to an employee (or their associate, such as a family member) in addition to their salary or wages. FBT is calculated on the taxable value of the benefits you provide. This is separate to income tax.

If your business provides fringe benefits to your employees then you need to:

• register for FBT
• calculate how much FBT you have to pay
• keep all records relating to the benefits you provide, including how you calculated the FBT you have to pay
• lodge a return and pay FBT to the ATO (generally by 21 May)
• include reportable fringe benefits on your employees’ payment summary or Single Touch Payroll (STP) income statement

Please talk to us to assist you with your FBT compliance and reporting requirements.