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2 3 2 1 4 New Zealand Businesses Have Subscribed Search our Article Database » Fringe Benefit Tax | Application Extract: Fringe benefit tax (FBT) was introduced to tax non-cash benefits provided to employees or associates of employees. These rules also apply to non-cash benefits provided to shareholder employees and their associates. The fringe benefit tax rules apply to a range of benefits. Principally these include: • Providing the private use or availability for private use of a motor vehicle to an employee. (Private use includes travel between home and work in most instances) • Employment related or low interest loans by an employer • Other goods and services provided by an employer at a price lower than the market value • Various insurance premiums for example medical insurance and certain superannuation contributions • Any benefit of any other kind whatsoever, although there are some specific exemptions, such as Health and Safety related obligations on or off premises The definition of fringe benefit is wide and FBT is a standard area for close review in a tax investigation. Inland Revenue Auditors frequently find mistakes in this area. Get the full article by becoming a Financial & Business Advisor Member. If you are already a FBA Member login here to view this article Contact us for more info Authors