If you have an FBT liability (otherwise known as a fringe benefits taxable amount) for the FBT year ending 31 March 2018, you must lodge an FBT return by 21 May 2018. This is unless:
- The ATO accept a request you make to lodge late
- We lodge your return electronically which meets the ATO lodgment on-time requirements.
However, you must still pay the total FBT liability by 21 May 2018.
If you haven’t previously paid FBT, or if the amount of FBT you had to pay for the previous year was less than $3,000, you must pay the tax once a year when you lodge your annual FBT return.
If you had to pay FBT of $3,000 or more for the previous year, you must pay FBT quarterly with your activity statement in the subsequent year. You need to make a balancing payment (if any) when you lodge your FBT return by 21 May, unless you’ve made other arrangements with us.
If your FBT liability is nil, and you did not vary your FBT instalments to nil, you need to lodge a return for the year ending 31 March 2018.
Lodging an FBT return will allow the ATO to update their records and make these credits available to you.
If your FBT liability for the year is nil, and you are registered for FBT, you don’t need to lodge an FBT return for the year. You should complete a Fringe benefits tax – notice of non-lodgment by the time your return is due.
If you require any assistance or have any queries regarding your FBT return, please do not hesitate to contact us on (08) 9321 2642.
This information is provided to you by the Australian Taxation Office (Date: 14th March 2018)