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Record keeping for FBT

Check which records to keep for fringe benefits tax (FBT) purposes and how long to keep them.

Last updated 25 March 2024

Records you need

You must keep records that:

  • show how you calculated the taxable value of benefits
  • support any fringe benefits tax (FBT) exemptions or concessions you used.

Examples of these records include:

  • calculations
  • worksheets
  • employee declarations
  • elections
  • invoices
  • receipts
  • bills of sale
  • lease documents
  • travel diaries
  • logbooks
  • odometer records.

For entertainment-related benefits, you should keep records of the following:

  • the date you provided the entertainment
  • who received the entertainment (an employee, associate of the employee or another person)
  • the cost of the entertainment
  • the kind of entertainment provided
  • where the entertainment was provided.

All records should be written in English. If your records are stored electronically, they must be in a format that is readily accessible.

You don't need to submit these records with your FBT return.

For more information about records to keep for specific types of fringe benefits, such as cars and living-away-from-home allowance, see FBT Guide: 4 Fringe benefits tax record-keeping.

Records to obtain from employees

Some exemptions and concessions require you to obtain records from your employees. This includes:

  • declarations
  • invoices and receipts
  • bills of sale
  • lease documents
  • travel diaries
  • copies of logbooks and odometer records.

FBT alternative record keeping option

From 1 April 2024 (the FBT year ending 31 March 2025), you will have a choice, for certain benefits, to use existing business records in place of some employee declarations. This alternative record keeping option will only apply if the Commissioner has made a determination by legislative instrument which sets out the information required in the alternative records.

Record keeping exemption arrangements

You may be eligible to calculate your FBT liability based on the total taxable value of fringe benefits you provided in an earlier base year. You must have kept full FBT records in the base year.

If you use this arrangement, you won't need to keep full FBT records for a particular FBT year. However, you may still be required to report the value of fringe benefits in your employees' payment summaries or through Single Touch Payroll.

To check if you are eligible to use the record keeping exemption arrangement, and find out how it works, see Guide to FBT: 4.7 Record keeping exemption arrangements.

How long to keep records

Keep your FBT records for 5 years from the date you lodge your FBT return.

  • If you don't have to lodge a return, keep your records for 5 years from the due date for lodgment of FBT returns (21 May).

Information about alternative record keeping options for travel diaries and employee declarations for certain benefits.