Fringe Benefits tax

There are a number of common mistakes made by businesses when reporting their fringe benefits tax (FBT), and the start of a new FBT year is a good time to correct any problems and get off on the right foot.

The Australian Tax Office (ATO) is becoming increasingly sophisticated at discovering unpaid tax liabilities, and people need to be scrupulous about ensuring they are accurately recording and lodging their returns or claims.

Breaker Text: 

FBT is one area where businesses often make mistakes, so it is important to understand exactly what is a fringe benefit and what tax needs to be paid on it.