Employers must assess their own liability for FBT annually. A return covering the FBT year, from 1 April to 31 March, should be lodged by 21 May or first business day after this date.
If your organisation has not previously paid FBT, or if the amount of FBT it had to pay for the previous year was less than $3,000 it is required to pay the tax once a year when it lodges its annual FBT return.
If your organisation had to pay FBT of $3,000 or more for the previous year, it must pay the tax quarterly with its activity statement in the subsequent year. A balancing payment (if any) should be made when it lodges its FBT return by 21 May (or the first business day after), unless other arrangements have been made with the Tax Office.
To calculate a fringe benefits tax liability, the taxable value of fringe benefits provided must be grossed-up.
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