Fringe Benefits Tax
In a number of countries (e.g., Australia, New Zealand and Pakistan) the 'fringe benefits' are subject to the Fringe Benefits Tax (FBT), which applies to most, although not all, fringe benefits. In India, the fringe benefits tax was abolished in 2009.
In the United States, employer-sponsored health insurance was considered taxable income until 1954.
Read more about this topic: Employee Benefit
Famous quotes containing the words fringe, benefits and/or tax:
“Look carefully through all the claims pressing upon you in your complicated life, and decide once and for all what it is that is the one really important and overmastering duty in it, and should be the one dominating aim. Then remember that if you succeed in that, the others, so multifarious, are really no more than the fringe of the garment, and that you need not spend so much anxiety over them, provided that the one most important is faithfully attended to.”
—Anna C. Brackett (1836–1911)
“In America the young are always ready to give to those who are older than themselves the full benefits of their inexperience.”
—Oscar Wilde (1854–1900)
“People buy their necessities in shops and have to pay dearly for them because they have to assist in paying for what is also on sale there but only rarely finds purchasers: the luxury and amusement goods. So it is that luxury continually imposes a tax on the simple people who have to do without it.”
—Friedrich Nietzsche (1844–1900)