Fringe Benefits Tax - is it a deductable expense?

[natmarie73]

Hi you accountants out there,

I have a quick question... if I salary package investment mortgage repayments, is the fringe benefits tax applicable then tax deductable as an expense? I am doing my salary packaging form for 2003 and don't know if I would be better off salary packaging the investment mortgage or leaving it as it is. Any assistance would be much appreciated.

Thanks guys

Nat

 

[DaleGG]

Hi

As an employee the FBT contribution is not tax deductible, I am afraid.

Dale

Originally posted by natmarie73
Hi you accountants out there,

I have a quick question... if I salary package investment mortgage repayments, is the fringe benefits tax applicable then tax deductable as an expense? I am doing my salary packaging form for 2003 and don't know if I would be better off salary packaging the investment mortgage or leaving it as it is. Any assistance would be much appreciated.

Thanks guys

Nat

 

[natmarie73]

Thanks Dale, I have since found out that it is actually FBT exempt anyway. Is this right?

nat.