Fringe benefits tax

A fringe benefits tax (FBT) is taxation of most, but not all fringe benefits, which are generally non-cash employee benefits.[1] The rationale behind FBT is that it helps restore equity and fairness to those employees who do not receive such benefits, and allows a Federal Government to more fairly assess taxpayer entitlement to government benefits, or liability to government taxes or levies.

This kind of taxation is done in a number of countries and the applicable laws vary. See the corresponding articles for details.

References

  1. "Fringe benefits tax". Australian Taxation Office Website. Australian Taxation Office. Retrieved 21 June 2011.
This article is issued from Wikipedia - version of the Saturday, November 24, 2012. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.