The ATOs FBT year is from 1 April to 31 March. What period should I use for the WorkSafe fringe benefits?
Use the same FBT period as the ATO, i.e. 1 April to 31 March. Section 8(2A) of the Accident Compensation (WorkCover Insurance) Act 1993 requires that the fringe benefit to be included in rateable remuneration for a financial year is to be the fringe benefit calculated for the period 1 April to 31 March ending in that financial year.
Related Questions
- In a case where the expenses are capitalized and amortized over a period, whether FBT will be payable over the whole of the amount capitalized or restricted to the amount amortized during the year?
- o If my employer reimburses me over a two year period for the cost of a notebook, can my employer provide me another notebook to me in the second FBT year as an exempt benefit?
- The ATOs FBT year is from 1 April to 31 March. What period should I use for the WorkSafe fringe benefits?
