Salary packaging long-service awards
An employer may provide a benefit to an employee in respect of long service.
Such a benefit will be exempt from FBT so long as the taxable value does not exceed $1,000 for 15 years of service and an additional $100 per year above 15 years.
Subscribers Only! Click here to become a member of TaxEd.
Disclaimer: This article is based upon information available as at the time of publishing and may be subject to change.