Distributing RATs to staff? Free from FBT but…

By introducing a specific individual income tax deduction, employers do not have to pay FBT, but there’s a catch in the fine print, as discussed by Hayley Lock, Andy Larmour and Stacey Biggar.

There’s always a catch with FBT isn’t there? The Federal Budget included a measure previously announced regarding the Federal Government’s intention to ensure that the costs of taking a COVID-19 test to attend a place of work are tax deductible for individuals from 1 July 2021. The associated legislation containing this measure, Treasury Laws Amendment (Cost of Living Support and Other Measures) Bill 2022, passed both houses of parliament on Wednesday 30 March and now awaits Royal Assent. ...

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Authors: Hayley Lock, Andrew Larmour,

Published Date: 31 March 2022