FBT Strategy

Using FBT Strategy to your advantage

Your company can save thousands of dollars through the effective use of the Fringe Benefits Tax (FBT) legislation.

The spirit of the legislation is to provide employers with the framework to attract and maintain quality employees with a greater range of tax effective benefits while not increasing payroll costs.

Trinitas can provide a strategic review of your existing employee benefits and FBT program, develop internal policy documents for your employee benefit program including; motor vehicle usage, benefit inclusions and restrictions and offer on-going consultancy services.

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Trinitas

FBT Strategy

To work out which FBT Strategy will work best for you, Trinitas offers an FBT consultation. Whether your goal is to use company resources more efficiently, implement FBT management strategies, increase accountability of salary expenses or maximise employee remuneration; effective use of FBT legislation can offer a wide range of benefits to employers and employees making it a true win-win opportunity. Please get in touch if you think your company could benefit from a consultation with one of our FBT specialists.

Benefits for employers

For employers, adopting a proactive approach to FBT can deliver many benefits to your company including:

Attract and retain quality employees
Streamline administration processes
Reduce you Payroll Tax and WorkCover premiums
Compliance with FBT legislation and processes
Lower internal costs through greater efficiency

Benefits for employees

FBT is an excellent form of tax planning that ensures you make the most of concessions available to you.

Benefits include:

Substitute taxable income with tax exempt or concessionally taxed benefits eg:
Motor vehicle leases
Various allowances (remote area, living away from home or relocation)
Salary packaging for offshore employees
Tools of trade
Income protection
Memberships
Superannuation
Self-education expenses

How can

Trinitas Help?

Trinitas can work with you to develop and implement strategies to reduce FBT liabilities, payroll on-costs and capital expenditure costs to your organisation..

We help you prepare forms

We will help you prepare all of the paperwork associated with FBT.

We help you set up

We work alongside your payroll team to set up the new remuneration structure.

Ongoing support

Once your FBT strategy has been implemented, Trinitas will provide ongoing support and advice on FBT queries.

Learn More Free Consultation

FBT Assessment

The first step is to assess and provide a strategic review of your existing employee benefits program. The fringe benefits applicable to each employee are thoroughly assessed, including motor vehicle use plans, benefit inclusions and restrictions.

From this assessment, we formulate a framework designed to maximise each employee’s remuneration and motor vehicle policies, while adding to your business bottom line. Our FBT consultants provide in-depth and comprehensive assistance to companies of any size in Brisbane and across Australia, including: