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It’s 2024 fringe benefits tax (FBT) time!

  As the 2024 fringe benefits tax (FBT) period approaches, it’s essential to note key dates and obligations. Employers who have provided fringe benefits to their employees or their associates between April 1, 2023, and March 31, 2024, are required to lodge and pay their 2024 FBT returns promptly.  Notable dates to remember include: The conclusion of the 2024 FBT year on March 31, 2024. The deadline for lodging FBT returns and settling any outstanding liabilities to avoid penalties and interest is May 21. For electronic lodgments through tax practitioners, the due date for lodging and payment is June 25. Employers new to lodging with a tax practitioner must ensure inclusion on their FBT client list by May 21 to be eligible for the June lodgment and payment timeline. Even if no FBT return is necessary, registered employers must inform the Australian Taxation crucial, the ATO recognizes exceptional circumstances and encourages proactive communication for those experie...
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Managing Cashflow for Small Business

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Federal Court Decision on Employer’s Failure to Pay Annual Leave Entitlements

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