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Fringe Benefit Tax

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This site will provide you with all you need to know about Fringe Benefit Tax in New Zealand.

You need to go also to our separate sites entitled :

 Tax Law

 G.S.T.

You can access these sites also from the related topics boxes at the top and the bottom of this page.

Fringe Benefit Tax is an area which affects many businesses. 

The regime has become more complex over the last couple of years and with complexity comes greater risk of getting it wrong.

While most Accountants are fairly familiar with the various rules on Fringe Benefit Tax there are still some common areas where people make mistakes.

These mistakes can be very costly especially where errors persist over several years.

There may also be opportunities to minimise FBT cost of which you are not aware.

We provide you firstly with a direct link below to that section of the IRD Website which deals with Fringe Benefit Tax.  Just click on :

 

 

 

Fringe benefit tax – If relevant, the employer must complete an IR 405 form showing the fringe benefits granted during the quarter and the tax calculated to be payable for that period.

This form must be filed quarterly by 20 January, 20 April and 20 October.

Some employers are, however, entitled to account for fringe benefit tax on an annual basis.

Fringe benefit tax" (FBT) payable when a fringe benefit is paid to an employee the employer is liable to pay 64% of the taxable val

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I have been unable to acquire any case law in regards to bankruptcy. I am thge alleged defendant in the matter and have opposed the application for bankruptcy as I am not the defendant. The case is now at the stage of the high court requiring a synopsis under 251a, I wish to make submissions in not being notified of the hearing at the district court after the notice of proceeding was served. The matter then got judgement without my knowledge and is now before the high court for bankruptcy. Please advise the procedure to locate any supportive case law that may assist with my application to set aside the bankrupcy claim.

Kindest Regards
A.Marsh
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"You will certainly get a rehearing if you were not notified but, if you simply misread the documents you were originally served with then you could be in trouble. You must actively follow up on your obligation to file and serve a defence and not just wait for the Court to come to you. Good luck . . . Netlaw "
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"Received notice from a creditors lawyer that they wish to put in companiy into liquidation and I have up to today upon receiving their letter. A Statory Demand was intially sent on 7 Aril 2008, which I reponded with a reply explaining that an arrangement (verbal) had been entered in by both parties which was to continue supply, once company got post dated cheques, company stopped surpply and but still continued to present cheques which was not the agreement which was entred into.
What position does that leave me if I want to legal challenge this. Without causing me excessive expresses.

Rina

Netlaw responds: If you say that they cannot properly sue because there was a new agreement for time payment, then you can apply for an injunction saying that the Statutory Demand Notice is wrong. But it will cost you. An injunction should not be done without legal advice. Type up a Statement setting out precisiely all the facts as you know them and see a lawyer as soon as possible. A letter shouid be sent to the other side saying how inappropriate the Demand procedure is when the subsequent agreement between the parties was made and kept by you. But you must get your facts right!"

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"I found this interesting. I want to sue for punitive damages and I was interested to learn that our courts are pretty conservative. I think the Welfare have quite wrongly taken my kids and I have found out that the affidavit they gave to a Judge to get an order to uplift them was known to the Welfare to be incorrect. They told the Judge that I had drug convictions but when I found out 5 months ago that they thought that I proved then to them that this was untrue yet I have now found that they have still put this false evidence in an affidavit. But they have also told other people about my "drug convictions". You have to watch these people. (name witheld) - May 2007"
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