DOCUMENT TYPE
ADMINISTRATIVE
FINANCE AND RESOURCES
PLANNING
FINANCIAL OPERATIONS
NUMBER
P
5
2
1
049
Policy Database Document Reference Number 521049P
FBT (Fringe Benefits Tax) Policy
Purpose/
objectives
The purpose of this policy and its related procedure is to provide a general overview
of Fringe Benefits Tax (‘FBT’) and its applicability to La Trobe University (‘the
University’). The document and procedure should be the first point of reference in
regards to the provision of benefits to employees and the treatment of fringe
benefits. Where the issue in question is outside the scope of this document all
queries should be referred to the Financial and Tax Accountant.
Scope/
Application
University operations
Policy
Statement
The University must comply with the obligations arising from Fringe Benefits Tax
Assessment Act 1986 (‘FBTAA’) and all associated ATO Tax rulings. All staff
involved in any University activities potentially affected by the FBT legislation should
familiarise themselves with the requirements of the FBT Act as detailed in this
policy, and in particular, the effect of the FBT in their area of work. For example,
employees who organise social events need to be aware of the FBT costs
associated with organising such an event. Any FBT related queries should be
directed to the Taxation Accountant – Finance.
Supporting
Procedures
FBT (Fringe Benefits Tax) Procedure
Responsibility
for
implementation
Senior Manager External Reporting, Tax and Compliance
Responsibility
for monitoring
implementation
and compliance
Senior Manager External Reporting, Tax and Compliance
Status
New policy, approved at PRC, 3 July 2015, min ref (PRC15/87(M)-95.9.
Key
stakeholders
Chief Financial Officer
Approval Body
Vice-Chancellor on the recommendation of the Planning and Resources Committee
Initiating Body
or person(s)
Senior Manager External Reporting, Tax and Compliance
Related
legislation
Fringe Benefits Tax Assessment Act (FBTAA) 1986
CCH Australian Fringe Benefits Tax Guide
ATO Miscellaneous Tax Rulings
V2015-07-03 FBT (Fringe Benefits Tax) Policy
Page 1 of 2
DOCUMENT TYPE
ADMINISTRATIVE
FINANCE AND RESOURCES
PLANNING
FINANCIAL OPERATIONS
NUMBER
P
5
2
1
049
Policy Database Document Reference Number 521049P
A New Tax System (Goods and Services Tax) Act 1999.
Related Policy
and other
documents
Date Effective
1 June 2015
Next Review
Date
30 May 2018
Keywords
benefits, car, employee, entertainment, FBT, fringe benefit, gross up rate,
reportable fringe benefits, travel, tax
Owner/Sponsor
Chief Financial Officer
Author
Senior Manager External Reporting, Tax and Compliance
Contact person
or area
Senior Manager External Reporting, Tax and Compliance
ERTC@latrobe.edu.au
V2015-07-03 FBT (Fringe Benefits Tax) Policy
Page 2 of 2