Fringe Benefits Tax Advice

Fringe Benefits Tax

As you know March 31 marks the end of the FBT year.  Statistics have reported most employers are non-compliant with their Fringe Benefit Tax (FBT) obligations and the majority fail to lodge a FBT return.  As a result, the Australian Tax Office (ATO) has broadened its reach to the SME and large business sectors for FBT compliance and auditing activities.

Now is the time to get ready and gather all the information necessary to complete your return, or to determine whether a return is necessary.

We have put together a questionnaire/checklist to make the process easier and more efficient. 

Our step by step FBT checklist is designed to:

 Cover all your potential FBT issues
 Simplify the information gathering process
 Ensure that FBT returns are lodged accurately and on time
 Create a data file which will satisfy the ATO’s substantiation requirements.
 Give you peace of mind that all FBT matters have been dealt with.

You need to complete the following documents that are available from our office as best you can.

In any case one of our team will call you to make sure that you are comfortable with the form and information gathering process. 


  •  Review the data we have pre-filled for you from last year’s return. (if applicable)
  •  Insert any necessary corrections.
  •  Call us if you have any queries and we can guide you through the form.
  •  Return the completed form to us asap 

Entities are required to administer their FBT liabilities in a manner that enables full compliance with Australian tax laws and to accurately report reportable fringe benefit amounts for individual employees.

Please call our Newcastle tax accountants to get this process started.