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If you work for an FBT-exempt or rebatable employer (such as not-for-profit, sporting clubs, educational institutions or hospitals etc) the ATO’s concessional FBT treatment can save you thousands of dollars each year.

These entities are able to provide employees with benefits (which would otherwise be taxed at 49%) at an effective tax rate of 0% for up to $17,000 or $30,000 depending on the type of institution you are working for. For an employee on the highest marginal rate of tax, the tax saving could be as much as $14,700 each and every year!

Many of these institutions are proactive in informing their staff of the benefits - however, there are also many that are not.

If you work for a not for profit organisation, please contact our office to see if you could be saving tax.

General Advice

The information provided by Bentleys (Sunshine Coast) Pty Ltd does not constitute financial product advice and is for general information only. It is written without taking into account any individuals personal objectives, situation or needs, and is not intended as professional advice. Any person acting upon such information without receiving specific advice, does so entirely at their own risk. Please contact your Accountant to discuss your personal situation before relying on this information.