What Is Fringe Benefits Tax? (FBT)

09/15/21 • 7 min

If you’re a business owner you’ve probably wondered what is fringe benefits tax at some point. In this episode I explain in depth exactly what fringe benefits tax is and how the fringe benefits tax in Australia works.
In order to understand fringe benefits tax you first need to understand exactly what is a fringe benefit. Fringe benefits are a non monetary benefit that an employer uses to go over and above for their staff (essentially). It’s a way of incentivising, rewarding or thanking without adding to their current income and thereby creating more business and income tax.
In this episode I also want to show you how fringe benefits tax and not-for-profits are often overlooked but potentially beneficial to you as a not for profit.

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Visit the downloads page to access accounting spreadsheets, templates and budgets.

If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn.
If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous.

Right Source Empowering Your Purpose Is Ours.

Connect with me on LinkedIn or visit our website rightsource.com.au
Visit the downloads page to access accounting spreadsheets, templates and budgets.

Right Source Empowering Your Purpose Is Ours.

Previous Episode

Bookkeepers vs Accountant - Which One Do I Need?!

Have you ever wondered what the difference is between a bookkeeper vs accountant?
I am often asked, accountant vs bookkeeper - which one do I get? Or what does a bookkeeper do? And what does an accountant do? So that’s why I decided to put this accounting vs bookkeeping episode together for you today.
Bookkeepers and accountants work together but they are not the same thing. So we shouldn’t approach it like ‘bookkeeping vs accounting’ but rather we should consider ‘when do I need a bookkeeper?’ And ‘when do I need an accountant?’
The bookkeeping vs accounting difference really boils down to the short term vs the long term view of your business finances. You may even have a bookkeeper accounting for you too! A lot of accountants do both.

Connect with me on LinkedIn or visit our website rightsource.com.au
Visit the downloads page to access accounting spreadsheets, templates and budgets.

Right Source Empowering Your Purpose Is Ours.

Next Episode

Annual Budget Planning: 5 Things To Include In Your Budget

It’s that time of year again when annual budget planning is at the forefront of our minds as small businesses. If you’ve never created an annual budget, now is the time.
Annual budget preparation isn’t difficult but when it does come to annual budget planning there are some considerations to ensure we are budgeting and forecasting in the best possible way.
I will be walking you through some of these considerations in your annual budget planning so your business budget is set for the new financial year! Small business budgeting isn’t too difficult but most businesses don’t do them. They’re a great way for you to see where you need to invest or pull back on spending as well as show you trends you may not have picked up on.
This episode will also give you some tips on how to budget a small business if you’ve never had experience in it as well as giving you the foundations for your small business budget plan.

Connect with me on LinkedIn or visit our website rightsource.com.au
Visit the downloads page to access accounting spreadsheets, templates and budgets.

Right Source Empowering Your Purpose Is Ours.