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Fringe benefits tax return records

ATO information for employers about the records you need to keep relating to the fringe benefits you provide to your employees or your employee's family or other associates, including how you calculated the taxable value of benefits.

Last updated 27 November 2019

As an employer, you must keep all records relating to the fringe benefits you provide to your employees or your employee's family or other associates, 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.

Records required for FBT

FBT records information and examples

Information your records need to show

Examples of types of records

You must keep all records relating to the fringe benefits you provide, including how you calculated the taxable value of benefits.

 

Your records must also show justification of claims for exemptions or concessions that reduce your FBT liability.

  • Calculations
  • Worksheets
  • Employee declarations
  • Elections
  • Invoices
  • Receipts
  • Bills of sales
  • Lease documents
  • Travel diaries
  • Fleet management records
  • Logbooks
  • Odometer records
  • Valuations – if and when required
  • Purchase receipts for vehicles
  • Receipts for service/maintenance for vehicles
  • Estimates of your FBT liability if you choose to vary the FBT amount
 

Where your associate has provided a fringe benefit to your employee, the associate is required to provide copies of the records to you within 21 days of the end of the FBT year.

How long you need to keep FBT records

You generally need to keep FBT records for five years from the date your FBT return was lodged. If you don't have to lodge, use the due date for lodgment of FBT returns, which is generally 21 May.

If your associate provides a fringe benefit to your employee (or your employee's associate), they also need to keep FBT records for five years from the completion of the transaction or action.

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See also:

QC60749