Ignoring your Fringe Benefits Tax (FBT) obligation could trigger an ATO Tax Audit

Posted by Tanya Moran on 13-Jul-2018 08:45:50

Previously the ATO has not focused its efforts on Fringe Benefits Tax (FBT) and therefore many business owners have put their heads in the sand and ignored it. But this isn’t a great strategy and with the ATO now putting more emphasis in this area it could land you in hot water. Here is what you need to know.

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Topics: Azure Group News, ATO, Fringe Benefits Tax, audit, auditor, Sydney Accountants, FBT, tax audit, ATO audit

What you need to know about Fringe Benefits Tax this financial year

Posted by Azure Group on 12-Oct-2012 14:59:00

The annual fiscal period for Fringe Benefits Tax (FBT) ends on the 31st March 2013 and is fast approaching.  The due date for lodgement of the 2013 FBT returns is the 28th May 2013. Employers have obligations to declare the value of benefits provided to employees during the period from 1 April – 31 March annual. In order to lodge an FBT return the employer’s business entity must be registered for FBT with the Australian Taxation Office.

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Topics: Fringe Benefits Tax, Tax

There’s more to staff incentive schemes than rewards

Posted by Michael Derin on 16-Nov-2010 15:01:00

Employee incentive schemes are a common strategy to increase loyalty, improve motivation and productivity and also reduce employee turnover, particularly for key staff members.

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Topics: Fringe Benefits Tax, Tax