Скачать или смотреть Why Fringe Benefits Tax Exists

Want a simple way to understand why Fringe Benefits Tax is a thing? Hear it from our guest, Davie. 👇

When employees earn a wage, employers withhold a portion for tax to pay to the ATO.

Let’s say with a $100k salary ➡ around $25k goes to the government, leaving about $75k.

To work around this, some businesses would substitute wages with certain benefits like cars. 🚘

Because they were not being paid under wages but were still being paid by the business as a form of “payment”, it was essentially a tax-free reward.

So the ATO put its foot down. According to them, these perks are just masked wages, so they started implementing the Fringe Benefits Tax! 💰

And these rules can get COMPLICATED, so it’s best to speak to your accountant about this if you’re offering your employees certain benefits!

🎧 Listen to the full episode on Spotify, Youtube, or wherever you get your podcasts on The Finance Fusion Podcast.

Check it out 👇
Spotify: https://spoti.fi/3NdGihX
YouTube:    • Exploring the Tax Implications in Business...  
Amazon Music: https://amzn.to/447S1oZ

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