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Fringe Benefit Tax (FBT)

IRD - 20 January 2012

Fringe Benefit Tax (FBT) is a tax on benefits that employees receive as a result of their employment, including those benefits provided through someone other than an employer.

The four main groups of fringe benefits are:

Motor Vehicles
Low-interest loans (other than low-interest loans provided by life insurance companies)
Free, subsidised or discounted goods and services, including subsidised transport for employers in the public transport business
Employer contributions to sick, accident or death benefit funds, superannuation schemes and specified insurance policies

Gifts, prizes and other goods are also fringe benefits. If you pay for your employees' entertainment or private telephone use, these benefits may also be liable for fringe benefit tax.

Please feel free to chat with us to ensure you are complying with FBT requirements.

All information is correct at the date of article publication. Please note we provide the information as a service only. Accordingly, the contents are not intended as a substitute for specific professional advice and should not be relied upon for that purpose.

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