what is FBT?

Answer Posted / anu varma

A fing benefit is a 'payment' to an employee, but in a
different form to salary or wages.

A fing benefit is a benefit provided in respect of
employment.

Example: A fring benefit may be provided when an employer,
1. Allows an employee to use a work car for provate
purpose.
2. pays an employees GYM membership fee.
3. Gives an employee a cheap loan.
4. Provides entertainment by way of free tickets.

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