Fringe Benefits Tax Returns

Do you (as an employer) provide fringe benefits to your employees or their associates? Think a company car, parking, entertainment, use of a holiday home, accommodation, gym memberships, concert tickets, payment of expenses, loan or waiver of a debt. If so, you may have a fringe benefit liability. Employers must lodge a fringe benefits tax (FBT) return if they have a liability – also known as a fringe benefits taxable amount – during an FBT year (1 April to 31 March).

If you prepare your FBT return, you must lodge a return and pay the FBT you owe for the FBT year by 21 May. If you have a tax agent that lodges your return electronically, the due date to lodge and pay is 25 June.

If the due date falls on a weekend or public holiday, you can lodge and pay on the next business day. For example, 21 May 2022 is a Saturday, so in this case, you must lodge and pay by the next business day which is 23 May 2022. If you’re registered for FBT but don’t need to lodge an FBT return for the year, complete a Fringe benefits tax – notice of non-lodgement.

If you need Simple Solutions to lodge an FBT return for you, please request an FBT questionnaire from the team. FBT returns start from $575 ex GST. Contact us to request an FBT Questionnaire.

For tips and tricks throughout the year, please join us on Facebook, Instagram and LinkedIn.