FBT is calculated on the taxable value of the benefit and is separate to income tax. Examples of fringe benefits are, work car and computer, gym membership, a discounted loan, entertainment such as concert tickets, meals, or drinks, providing accommodation either rent free or at a reduced ...
Usually, the employer is in charge of managing the procedure. Therefore, it’s crucial to take into account the restrictions, such as the $30,000 annual Fringe Programs Tax (FBT) ceiling, the effect on take-home income, and the potential impact on eligibility for government benefits. Addition...
Caroline Hallemann is the Digital Director at Town & Country, where she covers culture, society, and entertainment, as well as the British royal family, among a variety of other topics. Prior to leading the digital team at T&C, s...