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:
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—Anna C. Brackett (1836–1911)
“Through all opposition the personal benefits of the reform [dress] [bracketed word in original] have compensated; but had it been mainly sacrifice, the thought of working for the amelioration of women and the elevation of humanity would still have been the beacon-star guiding me on amid all discouragements.”
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“To tax and to please, no more than to love and to be wise, is not given to men.”
—Edmund Burke (1729–1797)