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New FBT rates for year starting 1 April 2011
20 April 2011The Australian Tax Office has released new Fringe benefits Tax rates and thresholds starting from 1 April 2011.
There are a number of changes to parts of the Fringe Benefits Tax Assessment Act, for example:
- Exemption thresholds and record keeping
- Amounts that represent a reasonable food component for LAFHA
- Rates applicable on a cents per kilometre basis for calculating the tax value of private use of motor vehicles such as motor cycles.
- Benchmark interest rates
For more information, download our FBT Rates 2011 and FBT for LAFHA factsheets with full details of the changes. If you're not sure whether you should be paying FBT, we've put together some questions to help you know where you stand.
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The material and contents provided on this website and in our print, email or downloadable publications are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained. Liability limited by a scheme approved under Professional Standard Legislation.
The material and contents provided on this website and in our print, email or downloadable publications are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained. Liability limited by a scheme approved under Professional Standard Legislation.
