Education is the key when it comes to FBT, here's a great webinar from the ATO covering Not For Profits (NFP) and government and FBT – what happens when you provide entertainment:
https://www.ato.gov.au/General/Fringe-benefits-tax-(FBT)/FBT-Webinars/
Even with a one size fits all cap there’ll be some heads that are either too big or too small. FBT is similar to a one size fits all cap (I bet that’s a sentence you never expected to read).
A small business will have very different FBT needs to a multinational corporation, which is why easyFBT offers a range of options depending on your needs.
Over the next few weeks we’ll look at each of our offerings in a little more detail.
When it comes to FBT it’s important to know what’s exempt. Check out this handy guide from the ATO:
https://www.ato.gov.au/General/Fringe-benefits-tax-(FBT)/FBT-exemptions-and-concessions/
Last week we talked about helping improve your barbeque conversational skills, well not really improve them but at least eliminating FBT from your arsenal of topics.
Our software takes all the pain out of FBT, it’s myriad of features make your job of reporting on, calculating and storing simple and easy.
How to calculate your FBT can often change, here's the latest news from the ATO:
https://www.ato.gov.au/law/view/document?DocID=SAV%2FFBTGEMP%2F00003
Let’s face it, it’s not often you’re at a barbeque and someone says; "you know what I really hate about FBT."
But if your day to day involves working in software that is supposed to help you it’s probably a conversation you’d love to be involved in. In reality, it’s probably a good way to free up your Saturday’s, an opening line like that is likely to see you spending a lot of time on your own.
The more things change, well the more they change! Check out this helpful blog from the ATO detailing the 2016-17 to 2018-2019 FBT rates and thresholds:
Sometimes when designing a product or service a company, or individual for that matter, will be faced with a choice, take the hard road, or the easy one. Often they choose the easy road.
You don’t know what you don’t know. Learn more about your FBT needs from this handy ATO blog:
https://www.ato.gov.au/General/Fringe-benefits-tax-(FBT)/Types-of-fringe-benefits/
Like many good ideas, the genesis of One Plus One Solutions and their easyFBT software grew from a mix of necessity, ingenuity, and that often forgotten quality when it comes to a good idea, action.
An often asked question at day one of a University Business course is; where is the one place you can find all the best ideas? Students often answer at University, in the Boardroom…the answer is in the graveyard.