Fringe Benefits Tax

Jan 16, 2016 | Accounting & Tax, Business

Geoff Williams

Fringe Benefits Tax – the end is near! The FBT year ends on 31st March and there a couple of items to keep in mind, please make a note of your work vehicle(s) odometer reading on 31st March 2016. We will be asking for that reading when preparing your business tax returns. Also there are two methods to calculate a potential FBT liability on a work vehicle which can produce varying results. To enable us to calculate the best outcome you need to have a log book of all travel for the vehicle over a 12 week period. Our annual FBT check list letter will be coming out at the end of March.

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