FBT exemption for training expenses for redundant employees

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The ATO has advised that employers who provide training to redundant staff (or staff who will soon be made redundant) may now be exempt from fringe benefits tax.

Eligible employers can apply the exemption to retraining and reskilling benefits provided on or after 2 October 2021. You must keep a record of all training and education for relevant staff to claim the exemption.

For more information and to check eligibility, visit the ATO website.

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