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'Greater audit activity' for 2018 FBT lodgements

An accounting network spots some considerations for fringe benefits tax (FBT), including the rate change and the tax office’s audit activity, as the FBT year draws to a close.

'Greater audit activity' for 2018 FBT lodgements
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For the 2018 FBT year, from 1 April 2017 to 31 March 2018, employers must pay FBT at a rate of 47 per cent on the grossed-up taxable value of fringe benefits, down from 49 per cent in 2016 and 2017 to account for the temporary budget repair levy.

Read the full article on Accountants Daily.

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