radford tax logo
07 5495 4100 ◆

Work-related items that are exempt from FBT

Posted on July 19, 2016 by admin

There are a number of employee benefits that are exempt from fringe benefits tax (FBT). They include the following work-related items:
– portable electronic devices (mobile phones, laptops, tablets, portable printers and GPS navigation receivers)
– computer software
– protective clothing
– briefcases
– tools of trade

The FBT exemption is limited to items that are primarily for use in the employee’s employment or one item per FBT year for items that have an identical function (unless the item is a replacement item).

From 1 April 2016, the exemption extends to all small businesses that give employees more than one work-related portable device in an FBT year, even if the devices have substantially identical functions.

To be eligible for the exemption, small businesses must be in operation for at least one income year that starts or ends in the relevant FBT year.

maximise your business's value

latest news

Types of business structures and which is best for you

Posted on September 24, 2020 by admin

An important decision to make before you start a business is what structure your business will run under. This will reflect into all facets of your business, so you should spend time understanding the implications of each structure.

Sole Proprietorship

Partnership

Company

Trust

radford tax associationsradford tax associationsradford tax associations