A significant consequence of the introduction of the new 39% top personal income tax rate in New Zealand are changes to the Fringe Benefit Tax (FBT) rates from 1 April 2021:
- The single flat rate of FBT is now 63.93% (previously 49.25%); and
- The alternate rate paid during quarters 1, 2 and 3 increasing from 43% to 49.25%.
PwC and Taxlab: 2021 FBT Update – Free Online Webinar
Taxlab are pleased to have Josie Goddard of PwC to talk us through the technical FBT changes and help you understand the different options for calculating FBT payable. Josie will use a case study to show the impact of the higher 64% FBT rate.
To close, we will showcase how FBT software provide a real opportunity for employers and advisers to save tax, better manage cashflow and efficiently complete the FBT return with automated de minimis, attribution and pooling optimisation as well as sense checks, reports and analytics.
After great feedback from our February webinar, we are gauging interest to setup another in April/May. Register your interest now.
Josie Goddard, PwC Auckland
Josie is a Senior Manager in PwC’s employment tax practice and brings 8 years of experience in advising large employers. She has led many payroll reviews focusing on employment taxes and has managed a number of Inland Revenue reviews and audits. Josie leads PwC’s policy submissions in relation to employment tax and was PwC’s lead specialist in relation to the recent payday reporting changes.
Jeremy Dobbie, Taxlab
Jeremy has over 10 years of experience working at PwC NZ, Thomson Reuters and EY UK, and exclusively with tax & accounting technology since 2013. He joined Taxlab in 2019 to help ensure the compliance needs of accountants and tax professionals are understood and connected with the relevant solution.