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FBT rates and thresholds for the 2021/22 FBT year

Updated FBT rates and thresholds for the 2021/22 FBT year have been released

The ATO has updated its webpage containing the fringe benefits tax (‘FBT’) rates and thresholds for the 2017/18 to 2021/22 FBT years.

Two amounts that were not previously announced for the 2021/22 FBT year are:

  • the FBT record-keeping exemption is $8,923 (up from $8,853 for the 2020/21 FBT year); and
  • the statutory or benchmark interest rate is 4.52% (down from 4.80% for the 2020/21 FBT year).

The ATO also separately released two taxation determinations setting out further rates and thresholds for the FBT year commencing on 1 April 2021, being:

  • Motor vehicle (other than a car) — cents per kilometre rate; and
  • Reasonable food and drink amounts for employees living away from home.

Please contact Omnis Group Business Accountants in Subiaco Perth if you need more information about these rates or FBT in general.

Omnis Group are modern, forward-thinking Business Accountants in Perth, providing practical, proactive, real-world advice and support that goes beyond the basic preparation and lodgement of tax returns, to identify opportunities for improvement in your business. 

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Omnis is a strategic accounting and financial planning firm that understands you and your business, and helps you maximise the opportunity you have.

We go beyond numbers and are driven by insight, guidance, and a personalised approach tailored to your unique needs.

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Street address:
Level 2, 7 Rheola Street, West Perth WA 6005

Phone Number:
08 9380 3555

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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