Definition of FBT in English:

FBT

noun

mass nounAustralian, NZ
  • ‘table 3 shows the FBT payable for a vehicle worth $30,000’
    • ‘The amount of FBT payable is dependent on the distance travelled each FBT year and the price you pay for the car.’
    • ‘It is possible to reduce your FBT liability to zero.’
    • ‘The regulation provides an FBT reporting exclusion for some child tuition assistance.’
    • ‘The private use of employer owned or leased business tools will be exempted from FBT where provided primarily for business purposes.’
    • ‘Defence pays FBT on a range of benefits provided for personnel stationed in remote localities.’
    • ‘The absence of an arrangement will mean FBT is not payable.’
    • ‘All payments are classed as FBT exempt and can be paid from pre-tax dollars.’
    • ‘One of the most perverse incentives, however, is provided by the statutory formula method of calculating FBT for vehicles.’
    • ‘The cost of additional fuel and maintenance is likely to be around $1,000 less than the reduction in FBT.’