Tax Fundamentals – Fringe Benefits Tax

At the conclusion of this training, attendees should be able to:

• define a fringe benefit;
• identify when a fringe benefit has been provided;
• determine the category of fringe benefit a benefit falls into and the specific valuation rules attached;
• understand where the specific benefits appear on the Fringe Benefits Tax Return;
• identify the various exemptions and reductions to taxable value;
• understand how the GST and income tax provisions interact with FBT;
• identify a reportable fringe benefit amount;
• distinguish between effective and ineffective salary sacrifice arrangements;
• discuss the tax planning opportunities associated with salary sacrificing.

The currency of this resource material is at 21 January 2021.