With the due date for FBT returns coming up, the following non-exhaustive checklist may prove useful in determining whether you as an employer have an FBT liability.
Although it will generally fall to your accountant to prepare the FBT return from your software file or other records, all of the instances where you have provided employees and/or their associates (eg, spouse) with a potential fringe benefit may not always be apparent to them. To assist you in bringing these potential benefits to the attention of your accountant, following is a general checklist to refer to.
To assist you in this process, we’ve put together a non-exhaustive checklist that may help determine whether your business has an FBT liability. By reviewing this checklist, you can highlight any potential fringe benefits and discuss them with your accountant to ensure they are properly accounted for in your FBT return.
Click the link below to access our interactive checklist, designed to help streamline your review process and ensure nothing is overlooked.
Conclusion
If you have any questions about your FBT obligations, don’t hesitate to reach out to our experience team here at Regency Partners for further clarification.
