fringe-benfits-taxFringe Benefits Tax returns can be burdensome and so your efforts by way of FBT preparation should be continuous.

March 31 is the critical FBT year-end date: have you recorded all the items you needed to ensure your FBT (that’s Fringe Benefits Tax for those not involved) return can be accurately prepared for lodgement – and more importantly, so that you don’t pay any more than is necessary?

  • Are you aware which records you need to keep?
  • Are you sure that you are not required to lodge and pay FBT?
  • If you employ people (including yourself in a company or entity you own), there is some likelihood that you will be eligible/ liable!

If you are not sure, contact your Accountant/ Tax Agent and check what information they require to help you comply with the FBT rules (or to ensure that they are not a concern in your particular circumstances).