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.

Related insights

Christmas accounting – your XMAS FBT guide!  

Christmas accounting – your XMAS FBT guide!  

With the silly season well and truly upon us, many businesses are looking to recognise and reward their staff’s efforts with a Christmas Party. This can be a great way to bring the team together and to celebrate successes in an informal and festive way. It’s important...

read more

Subscribe for the latest news + updates

Get in touch to explore your opportunities with an LBW expert and discover your journey to a better financial future.