Fringe Benefits Tax (FBT)
Fringe Benefits Tax (FBT) is a paid by a company based on benefits provided to employees. Companies have to report the value of benefits provided to employees on their annual Group Certificate.
For compliance purposes, companies require reliable FBT systems and processes.
FBT systems should be able to import data from fleet management system to compute benefits on company cars.
Companies may decide to develop their own in-house systems to track certain benefits, such as low-interest loans to bank employees and discount travel to airline employees.