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  • Record keeping

    You must keep all records related to the fringe benefit, including how you calculated the taxable value of benefits. You must also keep records if you want to take advantage of various exemptions or concessions that reduce your fringe benefits tax (FBT) liability.

    These records must be kept for five years from the date they are prepared, obtained, or the transactions completed or the date your FBT return was lodged. All records should be written in English, or if stored electronically, must be in a form that is readily accessible.

    Examples of these records include:

    • employee declarations
    • invoices
    • receipts
    • bills of sales
    • lease documents
    • travel diaries
    • logbooks
    • odometer records.

    Next steps:

    See also:

    Last modified: 23 Jan 2015QC 43876