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Fringe Benefit Tax
(F.B.T.)
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| More
on this topic >>> |
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| In New Zealand
all expenses paid by Companies, Partnerships and Sole Traders
are subject to the Fringe Benefit Tax criteria. |
| Expenses which
relate solely to the running of the business eg power, rent,
materials etc are not liable to Fringe benefit tax unless use
of them provides a (perk) fringe benefit for an employee/director
or deemed employee/dependent contractor |
| If you give fringe
benefits (perks) to your employees, shareholders, or other people
associated with your business, you must generally pay fringe
benefit tax (FBT) on the value of them. |
| The Inland revenue
publishes a Guide
on Fringe Benefit Tax (IR 409) (492k pdf) which include
calculation tables and specific examples. Direct Selling companies
should make sure they hold a copy of this Guide on file.
Note the rates change along with any increase/decrease
in top tax rates. |
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