loader image

Home > Blog > With the FBT year end upon us it is time to focus on these reporting obligations.

With the FBT year end upon us it is time to focus on these reporting obligations.

Date: 30 March 2017

The Fringe Benefits Tax (FBT) year ends on 31 March 2017 and FBT Returns are due and payable by 21 May 2017, including nil returns, if appropriate.

As an employer, you should consider all benefits provided to employees or associates during the FBT year 1 April 2016 to 31 March 2017. If a benefit can be turned into wages, then it is considered as attracting FBT.

The ATO has confirmed in a recent Private Binding Ruling any consistent use of a motor vehicle designed to carry a load of more than one tonne may still be a reportable fringe benefit for an employee. This is a change from the definition of a car in the Fringe Benefits Tax Assessment Act 1986.

If you need assistance in determining whether you have an FBT liability for the 2017 year, or if you would like some information on setting up salary sacrifice arrangements for your employees, please contact your accounting partner.

 

Know More

Firearms – Deceased Estates (NSW)

Firearms – Deceased Estates (NSW)

When a registered firearms owner has died, their executor (or administrator) should notify the Firearms Registry of the death as soon as practicable. The Firearms Registry will arrange for NSW Police to complete a safe storage inspection of the firearms. At this time,...

read more
Federal Budget 2024: Super & Retirement Planning

Federal Budget 2024: Super & Retirement Planning

Federal Budget 2024 – Impacts on Superannuation and Retirement Planning The Budget was a fairly low-key affair with respect to super this year, but a few things are worthy of note: Super on Paid Parental Leave Having said that the announcement that the Government will...

read more
Karen Lanz Dominates Advanced Tax Course with Top Mark

Karen Lanz Dominates Advanced Tax Course with Top Mark

Karen Lanz, our Senior Accountant based in our Glen Innes office, has recently attained the highest score in an Advanced Tax Course. Congratulations, Karen, on this outstanding accomplishment! We had the opportunity to interview her to gain insight into her success...

read more