Fringe Benefits Tax Lodgment Information
The Fringe Benefits Tax (FBT) year runs from 1st April to 31st of March. If you are providing certain benefits to your employees or you are receiving certain benefits as a director of a company or trust, you may be subject to FBT.
Lodgment and Payment Dates
The FBT lodgement and payment dates are as follows:
- 2017 FBT return is due 21 May 2017 if lodged by paper;
- 2017 FBT return is due 25 June if lodged by our office, however the payment due date is 28 May 2017.
For FBT Eligibles
If you are subject to FBT you must:
- Register for FBT;
- Keep records including how you calculated the taxable value of the benefits provided;
- Report, lodge, and pay your FBT Return and any corresponding FBT liability.
In the event that you are registered for FBT and have a fringe benefit taxable amount during an FBT year of nil, you will need to complete a notice of non-lodgement to ensure your obligations are up to date.
Quick Tip: Don’t forget to record the days when the car was not available for private use, as this reduces your FBT Liability. An example would be when the employee is on holiday and the car is garaged at the office premises.