FBT Accountant for Fringe Benefits Tax Compliance
Identify employee benefits, calculate taxable values, and lodge annual FBT returns with qualified tax agent support.
Service at a Glance
Personalized scope & lodgementWage earners, investment property owners, CGT, crypto & standard returns
100% online video meetings (Outlook Calendar) or in-person
Direct electronic ATO portal lodgement by Registered Tax Agent
Draft explained and authorized by you before electronic submission
- Pre-lodgement draft walkthrough & written client sign-off
- Extended ATO tax agent lodgement deadlines available
- Transparent upfront quoting & zero lodgement without approval
What Is Fringe Benefits Tax?
Fringe benefits tax is a tax paid by employers on certain benefits provided to employees or their associates in connection with employment. It is separate from income tax and is administered on an FBT year that generally runs from 1 April to 31 March.
Not every employee benefit is subject to FBT. Exemptions, concessions and valuation rules can apply depending on the type of benefit and the circumstances. That is why FBT should be reviewed by benefit category rather than treated as a single blanket calculation.
The FBT Year (1 April – 31 March)
Unlike corporate income tax which follows the standard 1 July to 30 June fiscal year, Fringe Benefits Tax operates on its own dedicated 12-month calendar ending on 31 March.
When Might You Need an FBT Accountant?
You may need a fringe benefits tax accountant if your business provides benefits such as vehicles available for private use, expense reimbursements, entertainment, loans, accommodation or other non-cash benefits to employees or their associates. The actual FBT treatment depends on the facts and applicable rules.
An FBT review can also be useful if the business has changed remuneration practices, introduced new benefits, acquired vehicles, reimbursed private expenses or has not reviewed FBT for some time.
Company Cars & Private Travel
Vehicles provided to employees or their associates that are available for private journeys or garaged at home.
Meal Entertainment & Functions
Providing food, drink, recreation, staff parties, corporate lunches, or event tickets to team members.
Expense Reimbursements
Reimbursing private employee expenses such as school fees, personal health insurance, or utility accounts.
Low-Interest or Interest-Free Loans
Providing commercial or personal finance to employees below the statutory benchmark interest rate.
Housing & Accommodation
Providing free or subsidized residential premises, holiday units, or temporary living away from home allowances.
What Do FBT Tax Return Services Cover?
FBT tax return services can be scoped to the benefits and records relevant to your business. Depending on the engagement, assistance may include:
Reviewing employee benefits and identifying categories that may require FBT consideration
Auditing company card expenditures, asset usage, and reimbursement claims to classify fringe benefit types.
Checking whether exemptions, concessions or specific valuation methods may apply
Evaluating minor and infrequent exemptions, otherwise deductible rules, and work-related vehicle exemptions.
Calculating taxable values using the appropriate available information
Comparing statutory formula vs operating cost methods for motor vehicles and grossing up taxable amounts.
Reviewing employee contributions and other relevant adjustments where applicable
Verifying post-tax employee recipient contributions made before 31 March to reduce or extinguish FBT liabilities.
Preparing the FBT return and related work papers where a return is required
Compiling comprehensive statutory workpapers and lodging the formal annual FBT return with the ATO.
Helping identify reportable fringe benefits amounts for employee reporting where relevant
Determining individual employee reportable amounts (RFBA) exceeding $2,000 for income statement disclosure.
Advisory Scope: FBT compliance services do not automatically include remuneration strategy, legal employment advice or financial product advice. Separate advice may be required for broader remuneration or legal structuring decisions.
Reportable Fringe Benefits and Payroll
Some fringe benefits may create a reportable fringe benefits amount for an employee even though the employer pays the FBT. Where the reporting rules apply, the relevant amount is generally reported through payroll reporting or otherwise provided using the required ATO process.
A reportable fringe benefits amount is not necessarily the same as the actual value of the benefit or the amount of FBT paid. It is calculated under specific reporting rules and can affect income tests used for certain tax and government purposes.
FBT Timing and Lodgement
The FBT year generally runs from 1 April to 31 March. Employers that are required to lodge an FBT return need to follow the applicable ATO lodgement and payment due dates. Those dates can differ depending on how the return is lodged and whether a registered tax agent lodgement program applies, so they should be confirmed for the specific year and circumstances rather than assumed from a general rule.
While self-preparer deadlines typically fall around 21 May, lodging via a registered tax agent like Financially Upgenerally provides extended electronic lodgement dates into late June.
Common Records Needed for FBT
The records required depend on the benefit. They may include motor vehicle details and logbook information where relevant, invoices, reimbursement records, employee declarations, travel or entertainment records, loan details, payroll records, employee contributions and documentation supporting any exemption or concession being applied.
Motor vehicle details, odometer records & valid logbooks
Supplier invoices, receipts & employee reimbursement forms
Signed employee declarations (e.g. private use, living away from home)
Detailed travel itineraries, attendance logs & meal entertainment accounts
Commercial loan agreements, interest statements & repayment schedules
Employee contribution records & documentation supporting exemptions
FBT and Business Bookkeeping
FBT often starts with accounting data, but bookkeeping entries alone do not determine the tax treatment. Expense descriptions may not show who received the benefit, whether there was private use, or whether an exemption applies. A proper FBT review may therefore require information beyond the general ledger.
If your business records also need ongoing transaction processing and reconciliation, see our Bookkeeping services page.
How Financially Up Can Help
Financially Up can assist employers with FBT reviews, calculations, return preparation and related payroll reporting where required. We can help identify the information needed, review the treatment of benefits and prepare the compliance work based on the available facts and current ATO rules.
Comprehensive FBT Health Check
Identifying which employer benefits, allowances, and reimbursements require FBT attention.
Valuation & Concession Optimisation
Applying lawful valuation rules, minor benefit exemptions, and otherwise deductible concessions.
Statutory Return Preparation & Lodgement
Compiling workpapers and lodging official FBT returns under the tax agent extended lodgement calendar.
Payroll & RFBA Coordination
Aligning reportable fringe benefit amounts with employee income statements via Single Touch Payroll.
Why Choose Financially Up?
Financially Up Pty Ltd is a registered tax agent with 10+ years of experience. Our professional accounting and tax team includes CPA and IPA members. We provide Australia-wide support through online appointments, with in-person appointments available where preferred.
Registered Tax Agent Representation
Direct authority with the ATO for FBT registration, returns, lodgement extensions, and non-lodgement notices.
10+ Years Corporate Tax Experience
Proven expertise across motor vehicle fringe benefits, salary packaging, entertainment, and employee contributions.
CPA & IPA Certified Practice
High professional standards delivering practical compliance across all Australian states and territories.
Contact Our FBT Specialists
Frequently Asked Questions
Common questions about fringe benefits tax exemptions, calculations, and annual return lodgements.
Identifying eligible deductions is crucial for minimizing your taxable income and maximizing your tax savings. Our team at Financially Upwill diligently explore all potential deductions applicable to your situation. From commonly claimed deductions to often overlooked ones, we leave no stone unturned in helping you claim every deduction you're entitled to.