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OK, well that would not work in this country (Australia): 3 words: "Fringe Benefits Tax" - most likely would end up behind tax wise (definately will not be bett
by michaelneale 18y ago
OK, well that would not work in this country (Australia): 3 words: "Fringe Benefits Tax" - most likely would end up behind tax wise (definately will not be better off), and most definitely with a much greater compliance burden.
- gscott 18y agoThere is the same tax here in the United States. There was this one Subway Franchise that gave a free sandwich to each employee per shift. IRS was going to charge tax for that to each employee but the franchise owner decided to pay the taxes for all of the employees for that benefit, then he had to charge them .25c (next to free) for the sandwiches in the future so the employees could avoid the tax on the so called "benefit".
- michaelneale 18y agoHere in .au its structured so that 99.9% of the time its just the same from a revenue perspective to the government as if they had paid the tax and used after tax (income) dollars. So in that case, a sandwich of .25 would be seen as a fringe benefit as its well below the retail price (I think some discounting is allowed, but its only like 10% without attracting FBT).