22: Navigating FBT: A Practical Guide for Employers with Ellie Murdoch
April 15, 2024
Confused about FBT? Or maybe you would just prefer to bury your head in the sand and hope you aren’t providing your employees fringe benefits. Unfortunately, if you are providing benefits, there is an increasing chance the ATO will pick up on it. So, in this episode, Sally Preston and Ellie Murdoch dive into the topic of Fringe Benefits Tax (FBT) to demystify some of the most common benefits you may be providing. Ellie answers five essential questions to help employers navigate FBT compliance.
Confused about FBT? Or maybe you would just prefer to bury your head in the sand and hope you aren’t providing your employees fringe benefits. Unfortunately, if you are providing benefits, there is an increasing chance the ATO will pick up on it. So, in this episode, Sally Preston and Ellie Murdoch dive into the topic of Fringe Benefits Tax (FBT) to demystify some of the most common benefits you may be providing. Ellie answers five essential questions to help employers navigate FBT compliance.
In this episode of the Smarten Up! The Tax and Business Podcast, you'll learn:
In this episode of the Smarten Up! The Tax and Business Podcast, you'll learn:
- What is Fringe Benefits Tax and common fringe benefits (1:52)
- Compliance obligations for employers providing fringe benefits (3:34)
- Implications for employees receiving fringe benefits (23:08)
- Common mistakes businesses make when preparing FBT returns (26:06)
- Due dates for lodging FBT returns (27:24)
If you’re an employer or business owner, this episode will help you gain invaluable insights and guidance for staying compliant and avoiding costly mistakes during the FBT season.
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