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Changes to fringe benefits tax record keeping

How changes to fringe benefits tax (FBT) record keeping impact employers from 1 April 2024.

Last updated 25 March 2024

The government previously announced a proposal to provide the Commissioner of Taxation with the power to allow employers to rely on alternative records to finalise their fringe benefits tax (FBT) returns.

This measure is now law. It applies to the 2025 FBT year (1 April 2024 to 31 March 2025) and onwards.

For certain benefits, employers will have a choice to use existing records in place of travel diaries or employee declarations. This will only apply if the Commissioner has made a legislative instrument prescribing the alternative records.

If an employer chooses to use alternative records, the information they are required to keep to support their FBT return remains unchanged, under FBT law.

For more information, see Fringe benefits tax alternative record keeping.