FBT benefit ???
 

Hello,

I have accepted a job and am moving to Gippsland next year. The contract that I have been given has a mention of Fringe Benefit Tax benefit of $9k. They have also said that Car can be via a novated lease.

I have read about Fringe Benefits and it can include a host of things. What does a FBT benefit of $9k mean? If thats what wont be taxed and the rest would be taxed at the highest rate then it wont really be viable to claim fringe benefits and $9K wont really take you far. Is it the employer who pays FB Tax or is it the employee ?

I would be working as a doctor in a public hospital and I understand that the $9K FBT relief is a standard benefit in Victoria.

Can someone please clear the confusion?

Thanks

Rj

Re: FBT benefit ???
 

Hi and welcome in the forum. $9k benefit means really an additional gross amount to your salary should you be comparing salaries with a position in a company that does not have FBT benefits. This means that you will not pay tax on additional $16050/year. You should ask the organisation to provide you a salary packaging booklet where you will have it all explained and contact details of the administrators of the scheme who would be able to answer any particular questions... we use Salpac - check their website for more info

Re: FBT benefit ???
 

Thank you. I will contact them for more info !

Rj