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Fringe benefit tax on specific categories of benefits: Employer contributions to funds, insurance and superannuation schemes

Liable employer contributions

Any contributions you make for your employees to any of the following categories of superannuation schemes and insurance funds are subject to FBT.

  • Category 1: contributions to sick, accident or death benefit funds
  • Category 2: insurance fund of a friendly society, life, pension, personal accident or sickness policies
  • Category 3: superannuation schemes to which employer superannuation contribution tax (ESCT), formerly specified superannuation contribution withholding tax (SSCWT), does not apply.

What is the taxable value of these fringe benefits?

The taxable value of fringe benefits that are employer contributions is:

  • the total premium you contributed or paid
  • GST-inclusive, unless the goods and services provided are exempt from GST.