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Why You Should Lodge an FBT Return in 2023
Fringe Benefits Tax (FBT) is designed to capture benefits enjoyed by an employee, it is levied on the employer. Unless your employment agreement allows for any FBT that becomes payable to be recouped from the employee, the employer will have no recourse for reimbursement.
Fringe Benefits Tax
Fringe Benefits Tax (FBT) in Australia is a tax on non-cash benefits provided by employers to employees, such as company cars, loans, health insurance, etc. Employers calculate and pay FBT on the taxable value of these benefits. FBT rate is 47%.
