Apr 21

Fringe Benefit: Employee Contributions

In order to withstand with Australian Taxation Office (“ATO”)’s heavy focus on Fringe Benefits, we have developed the following templates outlining an Employee’s obligation and FBT arrangement towards an Employer.

Employers are required to keep these templates on file and/or distribute to their respective employees where necessary. The objective of formalising this arrangement is to offset the amount of Fringe Benefits Tax that the company is required to pay to the Australian Taxation Office, by allocating an Employee contribution to offset the Fringe Benefits amount.

Please refer to the attached templates if you are required to prepare an FBT declaration. For more information regarding FBT record-keeping, click the source link button below.

TemplatesView Source

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