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NFP Fringe Benefit Tax

November 19, 2013

Fringe Benefit Tax is payable by employers who provide fringe benefits to their employees. The two fringe benefit concessions available to certain types of NFPs are FBT exemption and FBT rebate.

FBT exemption

This is an exemption from paying FBT. Certain NFPs such as public benevolent institutions and health promotion charities are eligible to receive fringe benefit exemption, subject to a capped threshold. Both employer and employee are able to derive taxation benefits as a result of this concession.

FBT rebate

This is an entitlement to rebate equal to 47% of the gross FBT payable, subject to capping threshold. Rebatable employers are certain religious, educational, charitable institutions.

Peter Shields's Articles

NFP Fringe Benefit Tax

Fringe Benefit Tax is payable by employers who provide fringe benefits to their employees. The two fringe benefit concessions available to certain types of NFPs are FBT exemption and FBT rebate. FBT exemption This is an exemption from paying FBT. Certain NFPs such as public benevolent institutions and health promotion charities are eligible to receive […] Read more

NFP GST concessions

There is a range of GST concessions available to NFPs. These include: sale of food through tuck shops or canteens are treated as input taxed gifts to NFPs are not considered payment for sale increased GST registration threshold of $150,000 etc. There are additional concessions available for charities, gift deductible funds and government schools. These […] Read more

Protect with internal governance

Broadly speaking, corporate governance is the systems or processes adopted to direct and manage an organisation. It extends to all processes used to ensure proper accountability, probity and openness in the conduct of an organisation’s activities. A NFP’s governance will usually be made up of volunteers and as a result it is sometimes hard to […] Read more

Opportunities for experienced leaders

Uncertain and turbulent economic conditions frequently result in organisations reducing headcounts, deferring training and staff development expenditure, cancelling celebratory events and failing to prioritise strategy retreats and staff briefings. Management can tend to limit their contact and direct support for employees, choosing instead to lock themselves in meetings, intent on fixing problems. Clearly, immediate problems […] Read more

Deciding if we need an audit

Organisations are required to undertake audits for a variety of reasons: As directed by a regulator As directed by the governing documents such as rules or constitution As directed by an external party (eg. as part of a banking agreement) As directed to by members The requirements for audit vary greatly depending on the type […] Read more

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