FBT Record Keeping Exemption Threshold
The Fringe Benefits Tax exemption thresholds for the purposes of section 135C of the Fringe Benefits Tax Assessment Act 1986.
Section 132(1) provides that relevant records must be kept for up to 5 years after the completion of the transactions or acts to which they relate.
A record-keeping exemption is available for lower-value FBT benefits (with some limitations), and the FBT liability is accordingly calculated using the value determined in an earlier “base year”, which is a year in which all the record-keeping requirements have been met.
The qualifying lower-value of FBT benefits is referred to as the exemption threshold. It is a value specified pursuant to section 135C and adjusted for inflation (according to the All Groups Consumer Price Index to 31 December) each year.
| FBT Year Ending | Exemption Threshold | |
| 31 March 2025 | $10,334 | |
| 31 March 2024 | $9,786 | |
| 31 March 2023 | $9,181 | |
| 31 March 2022 | $8,923 | |
| 31 March 2021 | $8,853 | |
| 31 March 2020 | $8,714 | TD 2019/4 |
| 31 March 2019 | $8,552 | TD 2018/5 |
| 31 March 2018 | $8,393 | TD 2017/2 |
| 31 March 2017 | $8,286 | TD 2016/2 |
| 31 March 2016 | $8,164 | TD 2015/5 |
| 31 March 2015 | $7,965 | TD 2014/4 |
| 31 March 2014 | $7,779 | TD 2013/6 |
| 31 March 2013 | $7,642 | TD 2012/3 |
| 31 March 2012 | $7,391 | |
| 31 March 2011 | $7,190 | |
| 31 March 2010 | $7,063 | |
| 31 March 2009 | $6,766 | |
| 31 March 2008 | $6,614 | |
| 31 March 2007 | $6,391 | |
| 31 March 2006 | $6,223 | |
| 31 March 2005 | $6,084 | |
| 31 March 2004 | $5,919 | |
| 31 March 2003 | $5,747 |
For further information (including details of exceptions and limitations) see here.
This page was last modified 2024-03-29