FBT on Subsidised Transport
Did you know that subsidising your employees for cost of travel between work and home is not a fringe benefit if they are travelling by bus, rail, ferry, or cable car? Low emission transport options like e-bikes, bikes, and scooters, are also set to become exempt in an effort to level the playing field for eco-friendly options when employers are choosing which transport benefits to offer their staff.
The way you provide this benefit matters, though, as providing a transport pass is not subject to FBT but providing money to buy a transport pass is.
Fringe Benefit Tax can be overwhelming, reach out to Rural Accountants today to find out how you can make sure you’re getting it right.
Great local Accountants. They provide an excellent service with great explanations for the layman. They provide accounting services for non rural clients too.
Rural Accountants is a real asset to our business.
The team at Rural Accountants pretty much manage all our administrative tasks for the group including payroll and tax planning, ensuring we don’t pay any more than necessary. They are at the forefront of technology and have helped us get up and running with Xero and Figured which is much more efficient than the way we used to work.
Christine is very knowledgeable, great to deal with and knows our business well. She is also a sheep & beef farmer so knows the industry really well and understands our needs.
Rural Accountants keeps us on track through strategic and forward planning meetings throughout the year. Christine knows our business inside out so she can deal with our questions instantly.
What Our Customers Think
I used to work out my GST and process it manually which would take me at least a full day every two months. The team set up reconcilliation rules and other quick tools, and showed me how to do all my reconcilliations and process my GST returns through Xero which now takes me no time at all!
As a farmer, Christine understands our business and how farmers and growers operate.
We use Rural Accountants to provide a full accounting service to an orcharding partnership which operates a number of orchards with a wide spread of varieties and management systems. Rural Accountants are always timely and accurate, and their annual financial accounts are extremely easy to understand and very grower-friendly.