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Experience a smoother FBT tax time by getting fringe benefits right

It’s FBT tax time – are you ready?

Get on top of your obligations, prepare for fringe benefits tax time and ensure you’re ready to lodge and pay your FBT return.

Have you provided your employees with any perks or extras, like work vehicles, held any social events or even paid for their personal expenses? You may need to lodge a fringe benefits tax (FBT) return and pay any FBT owed.

The FBT year runs from 1 April 2025 to 31 March 2026, so if you provided any perks during this time (or even think your business might have) now’s the time to sort it out.

These steps will assist you to confidently meet your FBT obligations and help you stay compliant.

1. Identify the fringe benefits

  • Start by working out what employee perks you provided and what type of fringe benefit they are. Don’t skip this step – it’s essential to help you understand what records you need to keep and to calculate your liability correctly.
  • Ask your employees: have they taken the work vehicle on a weekend getaway to the coast? If so, it could mean FBT applies.

2. Determine the taxable value

3. Keep accurate records

  • Ensure you keep the right records to support your FBT position. The type of records you need to keep will depend on the fringe benefit provided.
  • Your records should also show your calculations and support any exemptions or concessions claimed.

4. Lodge, pay and report

Don’t need to lodge?

If you’re registered for FBT but your FBT liability is nil, you still need to let the Tax Office know by lodging a Fringe benefits tax – notice of non-lodgment.

Want to know more about FBT?

See how fringe benefits tax works or speak to registered tax agents Omnis — we can help you with your FBT obligations.

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Source: Australian Tax Office (16 March 2026) It’s FBT tax time – are you ready?

Justin Flavel

Managing Director

Justin’s experience spans across 20 years in accounting, financial analysis and general business practice.

Although born and bred on the land, Justin’s interest was more in spreadsheets, ledgers, and finance which led him to attend university. In 1992, Justin graduated with a Bachelor of Business majoring in Accounting and Finance. As well as qualifying as a CPA member and becoming a Fellow of the Taxation Institute of Australia, he began gaining practical experience in small and mid-tier accounting practices.

During the late 90s, Justin decided to expand his horizons and travel through Europe. It was during this time that he seized the opportunity to expand his knowledge on the workings of large organisations by taking on roles in multinational corporations.

Today, Justin’s passion is in facilitating businesses to grow and evolve. His focus is on acting in the role of business mentor to help clients develop the full potential of their businesses. He joins clients on their unique journey, and provides the tools and knowledge they need along the way to make the right decisions.

Justin’s aim for his clients parallels his own philosophy and personal journey—focusing on his own career growth and business success while maintaining balance in his life with his wife and three daughters.

Omnis Group Managing Director - Justin Flavel