FBT Clause Samples
The FBT (Fringe Benefits Tax) clause defines the responsibilities and obligations of parties regarding the payment and reporting of fringe benefits tax in an agreement. Typically, this clause clarifies which party is liable for any FBT arising from non-cash benefits provided to employees, such as company cars, entertainment, or housing. By specifying these details, the clause ensures compliance with tax laws and prevents disputes over unexpected tax liabilities related to employee benefits.
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FBT. Employees who use an Employer provided motor vehicle as a result of the performance of their employment duties (eg. crisis assessment treatment team on-call functions) are not to suffer any financial disadvantage, howsoever incurred, as a result of fringe benefits tax (FBT) law.
FBT. (a) The risk that an FBT liability is incurred is solely the Employee’s, regardless of the circumstances that result in FBT.
(b) The Employee must make provision for FBT in advance of the FBT liability being incurred.
(c) The Employee acknowledges that access to an FBT exemption cap or any other FBT concession is not an Employee entitlement. An FBT exemption cap is a tax concession made under the Fringe Benefits Tax Assessment Act 1986 for limited categories of employers, not employees.
(d) Eligibility for an FBT exemption cap or the applicability of other FBT concessions is determined by the Employer having regard to the Fringe Benefits Tax Assessment Act 1986, ATO rulings, determinations and interpretative decisions.
(e) The Employee, whether eligible for an FBT exemption cap or not, is liable for any FBT incurred, whether that FBT is incurred through the FBT exemption cap being exceeded or through the Employee salary packaging a Benefit Item that attracts FBT.
FBT. For purposes of the Agreement, all references to “FTB” in Section 1.5(f), Section 4.2(a) and any additional places in the Agreement shall be changed to “FBT.”