The fringe benefits tax (FBT) year wrapped up on 31 March 2026. If your clients have provided perks to employees during this period, they may be required to lodge an FBT return and pay any FBT owed.
It's often said that prior preparation prevents poor performance, so here are 4 key steps to help get it right from the start. Following these will also support your clients to report accurately, stay compliant and avoid potential penalties.
- Identify the fringe benefits – know what benefits your clients have provided and what type of fringe benefit they are. Ask about the perks they provide to employees. Do your clients provide work vehicles? Do their employees garage them at their house? Asking questions about perks will help you identify fringe benefits that your client provides.
- Determine the taxable value – use the relevant calculation methods to work out the taxable value for each fringe benefit. This will help you calculate the total taxable value and FBT liability correctly.
- Keep accurate records – remind your clients to keep accurate records to support their FBT position. The type of records they need to keep will depend on the fringe benefit provided. Records should show calculations and support any exemptions or concessions claimed.
- Lodge, pay and report – let your clients know when you'll need to lodge, and they'll need to pay. The lodgment and payment due date for your client's FBT return is 25 June 2026 if you lodge electronically, or 21 May 2026 if you lodge by paper. Your clients need to report any reportable fringe benefits amounts for their employees by 14 July 2026.
Don't need to lodge?
If your clients don't need to lodge an FBT return, send us an FBT non-lodgment advice form as early as possible as processing may take up to 28 days around peak lodgment dates.
See How fringe benefits tax works for more information.