Business Services Industry
Vigilance is order of the day on FBT.(fringe benefit tax)(Brief Article)
Australasian Business Intelligence, March, 2005 by Lynch, Damien
Mar 14, 2005 (The Australian Financial Review - ABIX via COMTEX)
Tax specialist Ernst & Young (E&Y) has advice for Australia's small to medium-sized enterprises (SMEs). It urges them to be painstaking with their declarations on fringe benefit tax (FBT). Failure to do so could invite not only an FBT audit but also a wider audit of the whole company, according to Paul Mather, a senior manager with E&Y's employment taxes division. The FBT year ends on 31 March 2005, and SMEs have to lodge their FBT details by 21 May. Mather says companies must have documentation to support their FBT claims.
Publication Date: 15 March 2005
ERNST AND YOUNG:
AUSTRALIAN TAXATION OFFICE
By Damien Lynch
All copyright subsisting under the...
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