Fringe Benefits Tax Exempt Benefits
You’re probably aware that Fringe Benefits Tax (FBT) is a tax that employers pay on certain benefits provided to their employees. However, there are certain benefits that are exempt from FBT, known as FBT exempt benefits. These benefits can provide a cost-effective...
Odometer Readings for the FBT Tax year
Odometer readings need to be recorded as at 31 March each year for all motor vehicles supplied by an employer i.e. a company, trust or partnership etc, to an employee including a director or trustee. No odometer record is required as at 31 March for vehicles owned by...
Tax Tip Saving Fringe Benefits Tax Costs
Thinking of purchasing a motor vehicle? If you are contemplating the purchase of a motor vehicle within the next few months then the timing of this purchase may have more tax consequences than you anticipated. If the following facts apply to you then you should...