Fringe benefits tax

Edited book (chapter)

Delany, Thomas P.. 2012. "Fringe benefits tax." Halsbury's Laws of Australia. Sydney, Australia. LexisNexis Butterworths. pp. Ss 405: Taxation and Revenue Part XI, 762,687-762,893
Chapter Title

Fringe benefits tax

Book Chapter CategoryEdited book (chapter)
ERA Publisher ID2484
Book TitleHalsbury's Laws of Australia
Authors
AuthorDelany, Thomas P.
Page RangeSs 405: Taxation and Revenue Part XI, 762,687-762,893
Number of Pages64
Year2012
PublisherLexisNexis Butterworths
Place of PublicationSydney, Australia
ISBN0409304360
Abstract

A‘fringe benefit’ is described as a benefit other than salary and wages accruing to a person because of an employment relationship. Taxation law assesses employees on cash payments of salary and wages and similar amounts received as a result of employment. However, prior
to 1 July 1986, significant difficulty was encountered in assessing non-cash benefits provided to employees and even greater difficulty in assessing associates of employees on benefits received from employers. Fringe benefits tax (‘FBT’) was implemented from 1 July 1986 to combat this difficulty. This chapter provides a full analysis of the operation of fringe benefits tax to commercial transactions in Australia.

Keywordsfringe benefits tax; taxable value; exempt benefit; car fringe benefit; debts waiver fringe benefit; loan fringe benefit; expense payment fringe benefit; housing fringe benefit; living-away-from-home-allowance fringe benefit; airline transport fringe benefit; board fringe benefit; meal and entertainment fringe benefit; tax-exempt body entertainment fringe benefit; property fringe benefit; residual fringe benefit
ANZSRC Field of Research 2020480106. Taxation law
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Byline AffiliationsSchool of Law
Institution of OriginUniversity of Southern Queensland
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