13 April 2021 - GAP Accountants
FBT rates and thresholds for the 2021/22 FBT year
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 our office if you need more information about these rates or FBT in general.
- Accounting (20)
- ASIC (2)
- ATO update (291)
- Business (107)
- Corporate (19)
- Division 7A (7)
- COVID-19 (42)
- Disaster Relief (6)
- Federal Election (1)
- Finance (15)
- Cryptocurrency (6)
- Foreign/off-shore issues (15)
- GAP Office Update (1)
- Industry (25)
- JobKeeper (23)
- LCT (1)
- Single Touch Payroll (12)
- Superannuation (88)
- Superannuation Guarantee (7)
- Taxation (208)
- Uncategorised (8)