Showing posts under "Fringe Benefits Tax"

Are you thinking of replacing your work vehicle?

Dated: February 20, 2017

Among the changes included in the Taxation (Business Tax, Exchange of Information, and Remedial Matters) Bill is an amendment that allows close companies to elect to apportion expenditure on motor vehicles the company provides to shareholder-employees between business use and private use as an alternative to paying fringe benefit tax (FBT) on the motor vehicle.Continue reading 

FBT on Group Life insurance, disablement & trauma insurance

Dated: July 7, 2016

Inland Revenue is currently reviewing employers who take out group life insurance, disablement and trauma insurance policies to cover employees. Inland Revenue is concerned that some employers have not been correctly accounting for Fringe Benefit Tax (FBT) on these policies. Where an employer has taken out an insurance policy in its own name, but it’sContinue reading