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EE 67: Other definitions
or “Definitions for calculating property value loss over time”
You could also call this:

“Tax on extra benefits given to employees”

When you give fringe benefits to your employees, you might have to pay a tax called fringe benefit tax. You can deduct this tax from your income, but only in the same year that you give the fringe benefits. This is true even if you don’t actually have to pay the tax in that year.

Remember, fringe benefits are extra things you give to your employees on top of their regular pay. These could be things like a company car or gym membership. The tax on these benefits is called fringe benefit tax.

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Next up: EF 2: Employer’s superannuation contribution tax

or “Rules for deducting tax on employer's superannuation cash contributions”
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Part E Timing and quantifying rules
Taxes and levies

EF 1Fringe benefit tax

  1. Fringe benefit tax for which a deduction is allowed may be deducted only in the income year in which the relevant fringe benefits are provided or granted, whether or not the tax actually becomes due and payable in the income year.

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