When is fbt payable

Show download pdf controls. Show print controls. Fringe benefits tax FBT A fringe benefit is a 'payment' to an employee, but in a different form to salary or wages.

For fringe benefits tax FBT purposes, an employee includes a: current, future or past employee director of a company beneficiary of a trust who works in the business. Fringe Benefits Tax FBT is paid on particular benefits employers provide to their employees or their employees' associates instead of salary or wages. Benefits can be provided by an employer, an associate of an employer, or a third party by arrangement with an employer.

An employee can be a former, current, or future employee. FBT is separate from income tax and based on the taxable value of the various fringe benefits provided.

A complicated gross-up factor is applied in calculating the tax - the general principle is that the FBT payable should equal the income tax otherwise payable by an employee on the top marginal tax rate, on the cash salary needed to purchase the benefit including GST from after-tax income.

Show download pdf controls. Show print controls. We will send you pre-printed activity statements before the lodgment date, including your: due dates for lodging and paying FBT instalment amount. Difficulty paying your FBT If you are having difficulty making a payment, phone us on 13 11 42 before the due date to discuss your circumstances.