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012-025 - Fringe Benefit Tax - Introduction

Fringe Benefits Tax was introduced to provide for tax neutrality between cash and non cash remuneration given by employers to employees. There has been many changes since Fringe Benefits Tax was first introduced in July 1986. This paper analyses the applicability of Fringe Benefits Tax, especially ...Read more
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Fringe Benefits Tax was introduced to provide for tax neutrality between cash and non cash remuneration given by employers to employees. There has been many changes since Fringe Benefits Tax was first introduced in July 1986.

This paper analyses the applicability of Fringe Benefits Tax, especially from a small business point of view. The paper is presented in thirteen pages, under the headings:

  • History Of Fringe Benefits Tax (FBT)
  • Items Considered To Be Fringe Benefits
  • Amount Of Benefit
  • Benefit Payments Excluded From Fringe Benefits Tax
  • Fringe Benefits Tax Year
  • Fringe Benefits Tax Return
  • Payment Of Fringe Benefits Tax
  • Must Be An Employer/Employee Relationship
  • Salary Packaging
  • Motor Vehicle Benefits Value
  • Car Parking Benefits
  • Loan Benefits
  • Car Loans
  • Debt Waiver
  • Expense Payment Benefits
  • FBT On Employee Payment Summaries (formerly Group Certificates)
  • Reportable Fringe Benefits
  • Exclusions

and includes as an Addendum a Reportable Fringe Benefits Amount Worksheet.