Australia: Fringe benefits tax return, instructions for 2021

Australia: Fringe benefits tax return, instructions

The Australian Taxation Office (ATO) released the 2021 fringe benefits tax (FBT) return and accompanying instructions for use by employers.

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Read information about the 2021 FBT return and instructions on the ATO website.

  • The information outlines how legislation changes and guidance will apply for the 2021 year, and also provides a summary of what other factors employers need to consider this year.
  • Draft Taxation Ruling 2019/D5 (which applies to car parking fringe benefits) is expected to be finalised before 1 April 2021.
  • The ATO stated any changes from Taxation Ruling 96/26 will apply from 1 April 2021 and transitional arrangements may be considered.

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