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These notes are intended to be a guide only. None of the comments contained in these seminar notes are intended to be advice, whether legal, financial or professional. You should not act solely on the basis of the information contained in these notes because many aspects of the material have been generalised and the tax laws apply differently to different people in different circumstances. Further, as tax and related laws change frequently, there may have been changes to the law since the notes were written. Specific advice should always be obtained from a tax professional.
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$30.80
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Chapter
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14
Notes Online Home 2021 FBT Basics A basic introduction to FBT
These seminar notes will discuss the main features of the FBT regime under the following broad categories:
- Overview of the FBT rules – flowchart
- What is a fringe benefit?
- Reducing the taxable value of fringe benefits
- When is FBT payable and the return due?
- What are the documentation requirements?
- Income tax consequences of providing fringe benefits