FBT meaning in Income Tax ?

tuteeHUB earn credit +10 pts

Answer:

What is Fringe Benefits Tax mean?

A fringe benefits tax (FBT) is taxation of most, but not all fringe benefits, which are generally non-cash employee benefits. The rationale behind FBT is that it helps restore equity and fairness to those employees who do not receive such benefits, and allows a Federal Government to more fairly assess taxpayer entitlement to government benefits, or liability to government taxes or levies.

This kind of taxation is done in a number of countries and the applicable laws vary. See the corresponding articles for details.

Fringe benefits tax (Australia)Fringe benefits tax (New Zealand)Fringe benefits tax (India) reference

Report

Posted on 12 Dec 2024, this text provides information on Miscellaneous in Income Tax related to Income Tax. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.

Take Quiz To Earn Credits!

Turn Your Knowledge into Earnings.

tuteehub_quiz

Write Your Comments or Explanations to Help Others



webstory list tuteehub
Miscellaneous in Income Tax
webstory list tuteehub
Miscellaneous in Income Tax


Ever curious about what that abbreviation stands for? fullforms has got them all listed out for you to explore. Simply,Choose a subject/topic and get started on a self-paced learning journey in a world of fullforms.

Important Income Tax Links

open app imageOPEN APP