Report Director use of the company’s money – Method 2

Report Director use of the company’s money – Method 2

 

Director Fringe benefits

Fringe benefits tax (FBT) applies when employees or their family or other associates, including directors of a company, receive certain benefits from their employer. This could be a gym membership or reimbursement of expenses, or company assets used for private purposes (for example, the company car).

HouseBytheSeaDirector Car

The company must lodge an FBT return and pay if it has an FBT liability.
– You (the recipient of a benefit) do not need to report the fringe benefit in your income tax return, unless it’s reported as a reportable fringe benefits amount on your income statement or payment summary

 

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