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