About Us/Contact Us :: How to Subscribe :: Login  

An Online Quick Reference Library for Tax Agents and Financial Planners

 


  TAX - A to HFringe Benefits TaxFBT - Record Keeping Exemption(135C)      Thursday, 2 December 2021  
   

Record Keeping Exemption Threshold (Sec 135C)


   

FBT year ended

Exemption Threshold

 

31 March 2022

$8,923

N/A

31 March 2021

$8,853

N/A

31 March 2020

$8,714

TD 2019/4

31 March 2019

$8,552

TD 2018/5

31 March 2018

$8,393

TD 2017/2

31 March 2017

$8,286

TD 2016/2

31 March 2016

$8,164

TD 2015/4

31 March 2015

$7,965

TD 2014/4

31 March 2014

$7,779

TD 2013/6

31 March 2013

$7,642

TD 2012/3

31 March 2012

$7,391

TD 2011/2

31 March 2011

$7,190

TD 2010/2

31 March 2010

$7,063

TD 2009/9

31 March 2009

$6,766

TD 2008/6

31 March 2008

$6,614

TD 2007/7

31 March 2007

$6,391

TD 2006/15

31 March 2006

$6,223

TD 2005/11

31 March 2005

$6,084

TD 2004/11

31 March 2004

$5,919

TD 2003/7

31 March 2003

$5,747

TD 2002/8

31 March 2002

$5,505

TD 2001/6

31 March 2001

$5,268

TD 2000/22

31 March 2000

$5,191

TD 1999/44

 

There is a general requirement that an employer must keep records that are adequate to enable their FBT liability to be assessed.  The record keeping exemption arrangements provide certain employers with an alternative means of calculating the FBT liability.

Two conditions must be satisfied for the record keeping exemption arrangements to apply to an employer for an FBT year:

(1) a base year needs to be established; and

(2) during the FBT year immediately before the current year the employer has not received a notice from the Commissioner requiring the employer to resume record keeping.

Section 135C of the Fringe Benefits Tax Assessment Act 1986 sets out a number of conditions that must be met before an FBT year is a base year of an employer.  One of the conditions is that the employer's aggregate fringe benefits amount in the base year does not exceed the exemption threshold.

For more details refer to the links below

 


This page was last edited on 21 March 2021

TaxFP.com.au - An Online Quick Reference Library for Tax Agents and Financial Planners

There are over 2,500 third party links on this website that we don't control. If you find a broken link before we do, please let us know. Thanks
editor@taxfp.com.au

  Contact Us  Copyright & Disclaimer  Links  Sitemap  Terms Of Use   Privacy Statement