What is Fringe Benefits Tax?

FBT is a tax paid by employers on non-cash benefits provided to employees. Rate: 47% on the grossed-up taxable value (equivalent to top marginal income tax rate). FBT year runs April 1 to March 31.

What are the most common FBT benefits?

Motor vehicles (statutory formula or logbook method), expense payments (personal loans, gym memberships), living-away-from-home allowances, entertainment, loans at reduced interest, housing benefits.

What is salary packaging?

Employees can sacrifice gross salary in exchange for FBT-exempt or reduced FBT benefits: superannuation (no FBT), laptops (otherwise deductible, no FBT), portable electronic devices, and exempt employer categories (hospitals, charities have FBT caps).

What is the FBT car benefit statutory method?

Taxable value = cost of car x statutory rate (20%) x (days private use / 365). Private use includes garaged at home. Cost = purchase price including delivery and accessories but excluding GST portion recoverable by employer.

What is an exempt benefit?

Certain benefits are FBT-exempt: portable electronic devices (one per employee per year), tools of trade, minor benefits (less than $300 infrequent), relocation expenses, briefcases, protective clothing, and computer software.

Australia Fringe Benefits Tax (FBT) Calculator

Calculate Australian FBT on employer-provided benefits. FBT rate: 47% (2024-25) on grossed-up taxable value. Grossing-up: Type 1 (GST-inclusive): 2.0802x; Type 2: 1.8868x. FBT year: April 1 to March 31.

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Annual Rate (%)

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$ Finance Disclaimer: These calculators are for educational and illustrative purposes only. Results do not constitute financial advice. Consult a licensed financial advisor before making investment or borrowing decisions.

How to Use

Enter the values for the scenario you are assessing. Calculate Australian FBT on employer-provided benefits. FBT rate: 47% (2024-25) on grossed-up taxable value. Grossing-up: Type 1 (GST-inclusive): 2.0802x; Type 2: 1.8868x. FBT year: April 1 to March 31. Use the australia fbt calculator result to inform your calculation.

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Frequently Asked Questions

What is Fringe Benefits Tax?

What are the most common FBT benefits?

What is salary packaging?

What is the FBT car benefit statutory method?

What is an exempt benefit?