Fringe Benefits Tax is tricky, which is why lots of small businesses avoid it. Unfortunately, that means they can miss out on benefits or risk penalties.
Simple actions like buying meals for staff, or providing them with interest-free advances on their pay, can trigger Fringe Benefits Tax. You might have to lodge an FBT return if that happens. As tax accountants, we can help you work out your Fringe Benefits Tax liability and get your return lodged with the ATO.
Salary sacrifice options can save your employees tax – that’s like giving them a pay rise without spending a cent.
It takes planning and paperwork though, along with an awareness of the pitfalls and the opportunities. We can take you through it, or present the information to your staff so they know exactly what they can save.
FBT Return Lodgement
FBT returns can be complicated and they require detailed evidence. We can help you develop a record-keeping system that makes things easy for you at the end of each FBT year. We can lodge your return for you too.
We Make It Easy
As tax accountants, we have special tools that let us calculate Fringe Benefits Tax correctly. We also have fast, secure electronic lodgement channels to submit your return to the ATO and store all the substantiation records for you.
Get your Fringe Benefits Tax work completed on time by an experienced tax accountant. Talk to us about an Agreed Price Service Plan and get us to lodge your FBT return for you.
Phone: 1300 427 526
Address: 15 Melway Crescent
HARRISTOWN QLD 4350,
If you buy an asset by 30 June and it costs less than $20,000, you can write off the business portion in your 2018 tax return.
Are you running behind on employee superannuation payments?
If so, you’re in luck.
Kelly O’Dwyer, Minister for Revenue and Financial Services, has just announced a Superannuation Guarantee Amnesty.
You have 12 months to get your unpaid super in order.