The rules relating to FBT payments change on a regular basis. At KGA we keep up to date with the world of tax and are able to give accurate advice on the preparation of FBT returns.
We are also able to advise on the FBT consequences of proposals you intend to make, allowing you to make fully informed decisions.
Fringe Benefit tax can be a significant cost and many businesses do not fully appreciate the extent of transactions to which fringe benefit tax can be applied. The more significant fringe benefit tax costs are incurred with respect to private use of motor vehicles and low or no interest loans to shareholders. There are however a number of other transactions in respect of which fringe benefit tax can be charged. In our experience the law around fringe benefit taxation is often overlooked with the consequence that non-compliance has the potential to result in significant added costs to a business if it is charged in a circumstance where FBT returns have not historically been filed. We work closely with clients to ensure the fringe benefit tax risk is mitigated by developing with clients a compliant process.
