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
edit- ^ "Fringe benefits tax". Australian Taxation Office Website. Australian Taxation Office. Archived from the original on 9 September 2011. Retrieved 21 June 2011.