Do I need to lodge an FBT return if I provide minor benefits?

Providing minor benefits, such as gifts under $300 given infrequently, does not always result in an obligation to lodge an FBT return. However, even minor benefits must meet specific guidelines to qualify for exemptions. Our team ensures all items are classified accurately so you can determine if lodging an FBT return is necessary.

Can I reduce my FBT liability?

Yes, reducing FBT liability is possible through strategies like salary packaging and applying employee contributions. For example, employees who contribute towards their company car can lower their tax obligations. Our experts help you maximise salary sacrifice tax benefits and implement compliant strategies to save you money.

What happens if I lodge my FBT return late?

Lodging late can result in significant FBT return penalties and interest charges from the ATO. To avoid these costly issues, we ensure your FBT return complies with ATO FBT lodgement rules and is submitted on time.

How do I know if a benefit is taxable or exempt?

Determining whether a benefit is taxable or exempt requires thorough evaluation. Items like work-related devices may qualify for exemptions, while perks like entertainment might not. Our tax experts evaluate and classify all benefits to minimise risk and maximise your employer tax deductions.

Why should I use a tax agent for FBT?

Using a tax agent provides peace of mind by ensuring accuracy, compliance, and savings. We handle the complexities of FBT, from precise calculations to applying the correct rules. Our expertise helps you avoid errors, reduce liability, and stay compliant, making tax agent benefits invaluable for busy businesses.