Fringe Benefits Tax (FBT) Return Assignment - Curtin University

This assignment presents a completed Fringe Benefits Tax (FBT) return for the period of April 1, 2017, to March 31, 2018, based on the Australian Taxation Office (ATO) form. The assignment includes detailed calculations and the completed FBT return form, covering various fringe benefits such as cars (using both statutory formula and operating cost method), loans, expense payments, and other benefits. The return includes sections for business details, calculation of taxable amounts (Type 1 and Type 2), and the final tax payable. The provided information includes the number of employees receiving fringe benefits, hours taken for preparation, and the breakdown of fringe benefits provided, including their gross taxable value, employee contributions, and taxable value after reductions. The assignment covers the declaration sections, including tax agent and employer declarations, ensuring compliance with relevant taxation laws. The details are from Montgomery PTY LTD. The assignment is designed to provide practical application of taxation law knowledge and expose students to the FBT compliance process. This assignment is designed to help students understand the process of calculating and completing an FBT return.