Expert Fringe Benefits Tax Advice

If the ATO selects you for an FBT audit, we act as your primary representative, compiling documentation, responding to queries, and negotiating timeframes. Our specialists explain complex benefit valuations in language auditors understand, reducing follow-up requests. We also conduct pre-audit health checks to identify and correct discrepancies. Throughout the review, we keep leadership informed of progress and potential liabilities, aiming for the quickest, most favourable resolution with minimal disruption to daily operations.

The ATO expects logbooks for vehicle use, declarations for living-away-from-home allowances, receipts for entertainment, and evidence of employee contributions. Electronic tracking tools make compliance easier; for example, apps record odometer readings and expense photos on the go. TTO sets up streamlined systems that store documents securely in the cloud and integrate with payroll software. Having accurate, real-time data not only simplifies annual calculations but also strengthens your position should the ATO request supporting evidence during a review.

Professional FBT return services analyse every benefit type and match it to available concessions, such as the otherwise-deductible rule or minor-benefit exemption. We also review salary-packaging opportunities like novated leases or work-related devices that shift tax from the employer to the employee at a lower marginal rate. Additionally, precise record-keeping reduces overestimation of taxable values. Together, these strategies legally decrease FBT liability, improve cash flow, and boost employee remuneration value without raising gross wages.

A fringe benefit is a non-cash perk provided to an employee or their associate such as private use of a company car, subsidised childcare, or meal entertainment. The ATO taxes these benefits separately to maintain fairness between employees who receive perks and those paid only in salary. Our experienced Adelaide based team identifies which perks are taxable, which fall under exemptions, and how various gross-up rates apply. Clear classification prevents under-reporting penalties and allows you to structure benefits more efficiently.