If you don't know whether Fringe Benefits Tax (FBT) applies to you, please read our article 'Do I need to file an FBT return?'
How Beany's FBT service works
- Collect info & Register for FBT: We'll provide a simple spreadsheet to assist with gathering the information we need to prepare and file your FBT return. If you aren't yet registered for FBT, we'll also do this for you.
- Review: We'll take a look at everything you listed on the spreadsheet and determine the total taxable value.
- Calculate: We’ll calculate the FBT payable amount and prepare the return for lodgement.
- Filing: Once you’ve reviewed and approved the FBT return, we’ll lodge it with the ATO and inform you of the amount and due date for payment.
What our FBT service doesn't cover
- Tax payments: We never make tax payments to the ATO on a client's behalf.
Filing and deadlines
- The FBT year in Australia is different from the standard financial year, running from 1 April to 31 March.
- The standard due date for lodgement and payment is 21 May. However, those with granted extensions may have a later deadline of 25th June.
If you think you may be providing benefits that fall under Fringe Benefits Tax or are not sure, please contact your Beany accountant. They will ask you some questions and then provide a spreadsheet to fill in if you do need to file an FBT return.