Fringe benefits in Australia refer to benefits provided by an employer to employees that differ from traditional wages or salaries. Examples of fringe benefits include the provision of a car that is allowed for private usage by the employees or their family members. Employers are obligated to pay tax on these benefits, which involves self-assessing annually and lodging a dedicated fringe benefits tax return. At Lotus Smart, we have skilled fringe benefit tax accountants who can help you with filing forms correctly as well as claiming deductions or GST credits to which you’re entitled.
The specialist accountants at Lotus Smart can assist employers with computing their fringe benefits tax for employees and preparing their annual fringe benefits tax returns. You can rely on us to provide cost-effective advice on the various measures that can be used to minimize your FBT liability. Whether you’re reporting a salary sacrifice fringe benefit or something else, we can help.
It’s important to remember that fringe benefit tax is separate from income tax and is calculated on the taxable value of the fringe benefits provided by employers to employees or their associates. If you’re wondering “where can I find someone near me who can assist with fringe benefits tax in Australia?”, our team in Clayton, Melbourne can be by your side. Our fringe benefit tax accountants can also help clients in and around:
Look no further than Lotus Smart for the best fringe benefits tax advice. If you have questions you want to ask about how we can help your business, or if you’re ready to book a consultation with one of our fringe benefit tax accountants, you can reach us via phone or email. Click here to find our contact details online.