Business Accountants: FBT Savings: Don’t Miss Out!

 

As May rolls around, it’s time to tackle fringe benefit tax (FBT). With final FBT returns due soon, it’s crucial to understand your options for calculating FBT and choose the best one for your needs. Let’s break it down:


FBT attribution has been around since the 21st century began, stemming from the 39% top personal tax rate. Wondering how FBT rates are calculated? They’re a gross-up of the personal tax rate, resulting in a high 63.93% FBT rate.


In the early 2000s, FBT attribution was common. But when the highest tax rate was removed in 2010, many reverted to paying FBT at the flat rate of 49.25%. However, with the return of the 39% top personal tax rate in 2021, more taxpayers are seeking ways to save on FBT costs.


Recent polls show that while some opt for full attribution or ‘short-form’ options, others still pay at the flat rate due to lack of understanding or time. Here’s the solution: outsource! Our team at Outside can handle your FBT calculations at a fraction of the cost, ensuring maximum tax savings. Don’t miss out—contact us today!

 

 

Your Outside Team

 

 

Need a bit of assistance with your business? Contact an Outside Accounting team member today and learn more about our fixed fees. You won’t regret it.

Aside from business consultation, we are business accountants Wellington who offer accountingbookkeeping, payroll services designed to help you achieve greater financial success.

You can click here to speak to a businessaccounting and bookkeeping firm. We will give you a call to know more about your needs. We will explain to you how we can improve your business. 

 

 

Contact 

Wellington Accountants | 

Business Accountants | 

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Property Developer Accountants | Accountants Wellington | Wellington Accountant | Restaurant Accountants | Cafe Accountants | Business Consultation | Business Adviser | Accountants for Healthcare | Accountants for Trades | Accounting for Doctors | Accounting for Dentists | Accounting for Architects | Accounting for Engineers

AddressLevel 2, 182 Vivian Street,
Te Aro, Wellington 6011, New Zealand 

Mail: PO Box 24-457, Wellington 6142

Phone04 889 2975

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