Australia: New Tax Exemptions for Work-Related Electronic Devices
Commencing April 1, 2016 work related devices supplied by a small business will not attract fringe benefits tax (FBT).
In Australia, FBT is a tax applied to employers rather than employees. Only businesses that satisfy the small business definition (an annual aggregated revenue of less than $2million) will receive the benefit.
The devices that can be included in the exemption include :
- GPS navigation receivers
- Mobile phones
It should be noted that the exemption will only apply to devices supplied after April 1, 2016.