FBT Return
Annual Fringe Benefits Tax return covering the FBT year (1 April to 31 March). The FBT rate is 47 percent for the FBT years 2023 to 2027. A business with an FBT liability of A$3,000 or more in the prior year pays quarterly FBT instalments on its BAS.
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Who this applies to
- Employers providing fringe benefits (cars, entertainment, loans, housing, etc.)
- Including Pty Ltds providing benefits to director-employees
What to file
FBT return form with grossed-up taxable values for each benefit category and FBT calculation at 47%. The gross-up factor is 2.0802 (type 1) when the employer can claim GST credits on the benefit and 1.8868 (type 2) when it cannot.
How to file
Via ATO Online Services or through a tax agent.
Payment due
Same date as the return. Quarterly FBT instalments via BAS reduce year-end balance.
Penalties for missing this deadline
FTL penalty up to 5 units. GIC on unpaid FBT. The penalty unit is A$364 for documents due on or after 1 July 2026, so the cap on the failure to lodge penalty for a standard lodger is A$1,820.
Filing checklist
- Identify all fringe benefits provided 1 April – 31 March
- Calculate taxable value (statutory or operating cost for cars, etc.)
- Gross up at Type 1 (2.0802) or Type 2 (1.8868)
- Apply 47% FBT rate
- Reduce by FBT instalments paid via BAS
- Lodge by 21 May / 25 June
- Check that quarterly FBT instalments on the BAS match the instalment notice
Documents you'll need
- Car logbooks and odometer records for company cars
- Expense payment benefit receipts and employee declarations
- Loan agreements to employees
- Records of employee contributions and entertainment costs
Common mistakes to avoid
- Forgetting that the FBT year is 1 April – 31 March (not 1 July – 30 June)
- Missing employee contributions (reduce taxable value)
- Not applying the minor benefits exemption (under A$300, infrequent)
- Missing exempt items (work-related portable electronic devices, etc.)
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