In Australia, a fringe benefit refers to the incentives given to employees in addition to their salary or wages. Employers usually provide these benefits to help attract, retain, and motivate employees. When providing their staff with these benefits or lifestyle assets to use for personal enjoyment, employers should work with a tax agent in Sydney to ensure that they are meeting their fringe benefit tax obligations.
If you are an employer, you have many responsibilities on your shoulders as you have to keep accurate records to determine the income tax deductions you may be eligible to claim. Read on to learn more about these responsibilities and also how you can lodge your FBT.
Do You Need Professional Assistance in Lodging Your FBT Return?
The end of the 2021 FBT year is fast approaching. For more information on the recent changes and developments in the FBT landscape this year, don’t hesitate to get in touch with a tax agent in Sydney.
If you have been searching the internet for “tax agent near me,” look no further than Practical Accountants. Please contact us on 02 9517 4726 or email info@practicalaccountants.com.au.
