FBTnews - issue 15 June 2006

Example two

Calculation for Kim's Kits Ltd for the quarter ending 31 March 2007—the new thresholds apply for each quarter.

Quarter ended	Value of all unclassified benefits	Employer exemption threshold	Employee exemption threshold	Number of employees and value of benefit	Value of benefits liable for FBT
June 2006	$ 3,400	$15,000*	$ 200	17 @ $ 200	nil
September 2006	$ 3,900	$15,000*	$ 200	17 @ $ 200 2 @ $ 250	$ 500
December 2006	$ 3,900	$15,000*	$ 200	17 @ $ 200 2 @ $ 250	$ 500
March 2007	$ 3,900	$15,000*	$ 200	17 @ $ 200 2 @ $ 250	$ 3,900
*Total value of benefits for current and three previous quarters	$15,100*