FBT Deadline 2025: Quick Checklist for Business Owners
Fringe Benefits Tax (FBT) can be confusing, and missing deadlines is costly.
Here’s what you need to know about FBT in 2025, plain and simple.
Key Dates
- FBT Year Ends: 31 March 2025 (covers 1 April 2024 – 31 March 2025).
- Last Lodgement Date: 21 May 2025
Who Needs to Lodge FBT?
If you provide benefits like car, or travel for employees, then you’ll need to lodge an FBT return.
You’ll also need to report each employee’s fringe benefits amount in their end-of-year payment information.
Good News: Easier Record-Keeping
No more travel diaries!
You can now use existing business records (like receipts or logs) for some benefits—just ensure they meet ATO requirements.
Big Change: Electric Car Exemption Ends
The tax break for plug-in hybrid cars (PHEVs) expires 1 April 2025.
You can keep the exemption if:
- The car was used (or available for use) before 1 April 2025
- You must have a signed contract to keep providing it privately after this date.
So, if you’ve been claiming this PHEV exemption, make sure to check the requirements before the deadline.
How to Lodge FBT
- Review all employee benefits provided this year.
- Mark 21 May 2025 in your calendar.
- Lodge and pay your FBT with the ATO
Don’t hesitate to reach out to your accountant or another tax professional at any stage of the process. Any mistakes can be costly.
Need a hand?
We can handle FBT (and several other compliance requirements) so you can focus on your business.
If you’d like any help, simply leave a message with your details and we’ll get back to you.
