Fringe Benefits Tax
Since 1986 the Australian Government has taxed employers on most non-cash benefits they provide to their employees in respect of employment. The tax is known as Fringe Benefits Tax. The tax is levied on the employer and not the employee, however, it is common for the employer to pass on the tax to the employee in salary sacrifice arrangements.
Generally, a fringe benefit is a non-cash benefit paid to an employee. The benefit may be in addition to a salary or the only benefit provided to an employee. The fringe benefit can benefit an individual, their spouse or their child/ren.
The rate corresponds to the top marginal income tax rate for individuals, including the Medicare Levy (47% for the Fringe Benefits Tax year ending 31 March 2018).
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Wardle Partners team use some of the following Software Systems:
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