FRINGE BENEFITS TAX ("FBT")

The FBT year ended on 31 March 2022 and each employer is required to calculate their liability for FBT. Where a liability for FBT exists, an annual return is required to be lodged and any tax paid by 21 May 2022. However, if the return is lodged electronically by a Tax Agent the due date of lodgement and payment is 25 June 2022.

The 2022-2023 Federal Budget has been delivered and has continued the Federal Governments focus on stimulating the economy out of the COVID-19 induced recession. Whilst there is less of an emphasis on spending compared to last years budget, it has targeted measures with an eye to the upcoming Federal election.

Welcome to our February 2022 edition of the StewartBrown newsletter. We hope to keep you informed of the important tax developments and issues affecting businesses in Australia today and throughout the year ahead.

Welcome to the special Land Tax edition of our client newsletter for 2022 where we hope to keep you informed of the important Land Tax compliance issues affecting owners of land in Australia. You may recall that Land Tax is a State tax and different rules apply in each State. In this newsletter we have summarised the position in NSW.