Fringe Benefits Tax : Types

Have you ever wondered what types of benefits an employer can offer to their employees beyond the typical ones? Well, there's a whole world of Fringe Benefits Tax (FBT) out there, and it can get creative. Let's explore some of the exciting possibilities!

First up, there's the option of letting your employees use a company car for personal use. Then there's the perk of having a guaranteed parking spot. No more circling the block endlessly in search of an elusive spot or having to shell out money for a pricey garage. With this benefit, you'll have a prime spot waiting for you every day.

And if you're a fitness enthusiast, you'll love the next one: having your gym membership paid for by your employer. It's a win-win situation - you get to stay healthy, and your employer gets a happy and productive employee.

But that's not all! Employers can also provide entertainment benefits, such as free tickets to concerts or sporting events. It's a great way to show appreciation and build camaraderie among colleagues.

If you have kids, you'll appreciate the option of having school fees or any other expense reimbursed. It can be a huge relief to know that your employer has your back when it comes to some expenses.

Lastly, employers can offer discounted loans or enter into salary sacrifice arrangements with their employees, where certain benefits are exchanged for a reduction in salary. It's a flexible way to provide perks that suit individual needs and preferences.

So, there you have it - just a few examples of the exciting possibilities when it comes to Fringe Benefits Tax.