2021 FBT Return Lodgement Tips
March 4, 2021
The fringe benefits tax
(FBT) year ends on 31 March. Employers who have provided benefits to their employees in the past 12 months will need to:
- work out which of these benefits attract FBT, and
- lodge their FBT return by 21 May 2021 or 25 June if lodged through a tax agent).
As a result of COVID-19, employers may have found themselves providing different benefits to those they usually provide – and these may be exempt from FBT. Generally, employers will not need to pay FBT for:
- items provided to employees to enable them to work from home (e.g. laptop or portable device)
- emergency accommodation, food and transport
- emergency health care.
The minor benefits exemption may also apply for minor, infrequent and irregular benefits under $300