Financial Services

Fringe Benefits Tax

Further information

Tax Frequently asked questions

 

Living allowance

A living allowance policy is expected to be available in early 2013.

Fringe Benefits Tax (FBT) is imposed on that portion of taxable hospitality expenditure that relates to the provision of meals, refreshments, entertainment and the like to University staff or associates.

FBT on official catering may be payable even where the food and beverages are supplied internally. It is not, however, payable on morning or afternoon teas or light lunches where alcohol is not served; however, these would need to be consumed at the place of work rather than a specialised entertainment area.

FBT will be charged to account 682 in the project grant from which the original expenditure is debited. Appropriate documentation to substantiate expenditure for hospitality and official functions must be maintained and the fringe benefits tax assessment form forwarded to Financial Services with the payment documentation.