A fringe benefits tax (FBT) is taxation of most, but not all fringe benefits, which are generally non-cash employee benefits. The rationale behind FBT is that it helps restore equity and fairness to those employees who do not receive such benefits, and allows a Federal Government to more fairly assess taxpayer entitlement to government benefits, or liability to government taxes or levies.
This kind of taxation is done in a number of countries and the applicable laws vary. See the corresponding articles for details.
- Fringe benefits tax (Australia)
- Fringe benefits tax (New Zealand)
- Fringe benefits tax (India)
Famous quotes containing the words fringe, benefits and/or tax:
“In the Japanese
tongue of the
mind’s eye one
two syllable word
tells of
the fringe of rain....”
—Denise Levertov (b. 1923)
“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)
“I have no doubt that it was a principle they fought for, as much as our ancestors, and not to avoid a three-penny tax on their tea; and the results of this battle will be as important and memorable to those whom it concerns as those of the battle of Bunker Hill, at least.”
—Henry David Thoreau (1817–1862)