FBT overview


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FBT overview

What is Fringe Benefits Tax?

Fringe Benefits Tax (FBT) is a tax on benefits from your employer which are not in the form of your cash salary or wages. These types of benefits, also known as 'fringe benefits', can include things like free or discounted health insurance, discounts on home loans or entertainment or a car via a novated lease.

In the case of fringe benefits, Pay As You Go (PAYG) tax does not apply - but Fringe Benefits Tax may be payable instead.

Do all fringe benefits attract FBT?

Most fringe benefits attract FBT. However certain items, such as superannuation (up to a capped amount), professional memberships and work-related travel, are FBT exempt. This means that when you salary package these items, no FBT is payable.

In addition, if you work for a specific employer such as a charity or not-for-profit health organisation you can salary package an even greater range of items, up to a capped amount, without attracting FBT.

In most other cases, salary packaging will be subject to some FBT but at RemServ, we have the knowledge and expertise help you understand the benefits available to you - and the tax savings that you could make.

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What are cap limits?

Cap limits explained If you work in the public health or charity industry, you can package certain items up to a set amount. This is referred to as y...

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