FBT is a tax on certain non-wage benefits provided to employees, provided during a year commencing on 1 April and ending on 31 March.
Employer provided cars, employee loans, in-house benefits, employee entertainment, and personal expenses.
Employee loans may need to be structured by way of a formal agreement where the employee is also a shareholder or an associate of a shareholder, to avoid a deemed unfranked dividend.
A Return must be lodged by the Public Officer or employer representative by 28 April following the 31 March each year, unless taxable fringe benefits are reimbursed in full by the employees.
Instalments are included as "F" in part of the Business Activity Statement.
The Final balance due may be reported in the March or June BAS.
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