You know what you can't claim (thanks to last week’s episode), but do you know why a $10,000 school fee actually costs your business $18,000?
In Part 2 of our FBT Series, Mia and Leo pop the hood on the mechanics of the Fringe Benefits Tax. We move beyond the "Naughty List" and dive into the specific calculations that determine your final tax bill.
With the help of our resident tax strategist Harvey Green, we explain why the "Laziness Tax" is costing you thousands and how a simple 12-week logbook can slash your liability.
In this episode, we crunch the numbers on:
The Gross-Up Nightmare: We decode the difference between Type 1 (2.08) and Type 2 (1.88) rates so you finally understand why FBT is so expensive.
Statutory vs. Logbook: The detailed math on how switching methods can drop a car tax bill from $7,000 down to $1,900.
The "Phantom Income" Trap: How a company car can secretly push you over the threshold for HECS repayments, Child Support, and the Medicare Levy Surcharge.
Employee Contributions: The clever strategy of paying a little bit towards your car to save a lot in tax.
Stop fearing the math and start using it to your advantage. This is the episode that turns "compliance" into "strategy."
Connect with Aevum Accounting:Ready to model your FBT liability before the end of the FBT year? Visit aevumaccounting.com.au to book a strategy session with Ben and the team.
Coming Up: Don't miss the finale next week—Episode 30: Power Plays, where we reveal the tax-free perks you actually want.
