FBT

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FBT exemptions for work-related electronic devices

FBT exemptions for work-related electronic devices From 1 April 2016, your small business clients can provide their employees with multiple work-related devices without incurring a fringe benefits tax (FBT) liability. The devices can include: laptops tablets calculators GPS navigation receivers mobile phones. Your clients can purchase the devices at any time, but can't give them to their employees until 1 April 2016 or they will be liable for FBT. This benefit may be in addition to or part of the employee’s salary or wages package. To be eligible, your client's business must have an annual turnover of less than $2 million. You should [...]

FBT – Christmas Parties

Christmas Parties - FBT, GST & Income Tax Planning to hold a Christmas Parties in the company, but worry about high margin rate of FBT, GST or income tax? No need to panic, we can help you. Talking about party, who will come, where it will hold, Food and Beverage expenses, Gifts and Tax. Company’s party participants usually have Employers, Employees and Clients. For Company, then need to consider how the party’s related expenses are subject to the tax. First of all, where is the party going to be held: At a Restaurant                                                 or                                           On [...]