1 July 2019 FBT rates and thresholds
Each year the ATO updates its rates and thresholds for fringe benefits tax, which is outlined below.
The ATO has released a range of updated rates and thresholds that will apply to the FBT year commencing 1 April 2019.
The rates and thresholds released include:
The cents per kilometre rates for calculating the taxable value of a fringe benefit arising from the private use of a motor vehicle other than a car
- The employer record keeping exemption threshold
- The indexation factors for valuing nonremote housing
- The benchmark interest rate
- Reasonable amounts for food and drink expenses incurred by employees receiving a living-away-from-home allowance fringe benefit
For more information about FBT and FBT reporting, please contact our team on 02 9957 4033.
This article is provided for information purposes only and correct at the time of publication. It should not be used in place of advice from your accountant. Please contact us on 02 9957 4033 to discuss your specific circumstances.