Fringe Benefits Tax

Many businesses are likely to have provided different types of benefits and assistance to their employees due to COVID-19.It can be quite challenging to work out whether FBT should apply. Just keep in mind that minor benefits should be FBT exempt where their individual cost is under $300 and it is reasonable to treat the benefit as minor (for example, provided infrequently).

Outside of this and in many cases, there are specific FBT concessions that could be available, but it is important to work through these concessions carefully.