Budget to tighten charities' FBT cap

The federal government will impose a fringe benefits tax cap of $5000 on meals and entertainment in Tuesday's budget.

A tax loophole that allows workers employed by not-for-profit organisations to salary sacrifice meals and entertainment will be tightened in next week's budget.

The federal government will impose a fringe benefits tax cap of $5000 on the expenses, The Australian reported on Thursday.

Charities and other like groups are given FBT concessions to allow them to compete against the private sector for quality employees.


Share

1 min read

Published

Source: AAP


Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world