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)
“I do seriously believe that if we can measure among the States the benefits resulting from the preservation of the Union, the rebellious States have the larger share. It destroyed an institution that was their destruction. It opened the way for a commercial life that, if they will only embrace it and face the light, means to them a development that shall rival the best attainments of the greatest of our States.”
—Benjamin Harrison (1833–1901)
“If you tax too high, the revenue will yield nothing.”
—Ralph Waldo Emerson (1803–1882)