News And Updates

On 31 March 2024 , t he Fringe Ben efits Tax (FBT) year ends. With the ever-increasing budget deficits as a result of COVID-19, the ATO will be reviewing whether all employers who sh ould be paying FBT are paying it, and that they are paying the right amount. The ATO has recently announced that the ‘FBT gap’ is now over $1.3 billion and will be deploying resources for FBT compliance to close this gap. To help you meet your FBT obligations, we’ve put together a list of essentials every employer needs to know about FBT and review every year, such as: