FBT concessions

As a small business, you may be eligible for fringe benefits tax (FBT) concessions.

The turnover threshold for FBT concessions is:

• $50 million from 1 April 2021 – if you are not a small business because your turnover is $10 million or more
• $10 million from 1 April 2017 until 31 March 2021
• $2 million up to 31 March 2017.

FBT car parking exemption

If you are a small business employer, car parking benefits you provide are exempt if:

• the parking is not provided in a commercial car park
• you are not a government body, a listed public company, or a subsidiary of a listed public company
• for the last income year before the relevant FBT year – either
  • your gross total income was less than $10 million
  • your turnover was less than $10 million (or $50 million from 1 April 2021).
   

See also:

• Small business car parking exemption

FBT work-related devices exemption

From 1 April 2016, small businesses can provide their employees with multiple work-related portable electronic devices that have substantially identical functions in the same FBT year, and all the devices will be exempt from FBT. This applies to devices that are primarily used for work, such as laptops, tablets, calculators, GPS navigation receivers and mobile phones.

From 1 April 2021, the turnover threshold to determine if you can access this exemption increases to $50 million for an income year that ends or starts in the relevant FBT year.

This benefit may be in addition to or part of the employee’s salary or wages package.

See also:

• Work-related portable electronic device exemption