Start thinking about your FBT obligations

The 2023 FBT year ended on 31 March, so it is now time for employers to get ready to lodge your 2023 FBT returns, where you have provided benefits to employees (or  associates) between 1 April 2022 and 31 March 2023.

If you have provided fringe benefits to employees during the year, we are able to assist you with satisfying the following requirements:

  • self-assessing your FBT liability for the FBT year;
  • lodge an FBT return (if you have an FBT liability or paid FBT instalments through    your activity statements);
  • pay the FBT you owe by the due date; and
  • calculate the reportable fringe benefits amount to be included on each         employee’s income statement or payment summary (if the total taxable value is   more than $2,000).

Employers that have an FBT liability for the year ended 31 March 2023 are generally required to lodge their FBT return and pay their FBT liability by 26 June 2023, where, we, as your registered tax agent lodge your FBT return electronically  (noting the usual due date of 25 June falls on a weekend this year).

Employers that are not included on our registered tax agent’s FBT client list must generally lodge an FBT return by 22 May 2023.

Employers do not need to lodge an FBT return if they are not liable to pay FBT for the year and have not paid FBT instalments during the year. If you are registered for FBT but do not think you need to lodge a 2023 FBT return, please contact our office so that we can confirm and let the ATO know before the due date, to ensure the ATO will not seek a return at a later date.

 If you have any questions, please contact us.

We're trusted by our clients,

and you can trust us too.

We'll help you navigate the taxation minefield.