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Budget 2025 | The Government has announced proposed changes to Working for Families, KiwiSaver and has announced Investment Boost: an immediate tax deduction when acquiring new assets. Find out more: www.budget.govt.nz

Different types of benefits are listed separately in the fringe benefit tax (FBT) taxable value calculation. This means you need to keep separate records for the different types of fringe benefits you provide employees.

Your records must show the following details:

  • date of the transaction
  • name of the employee receiving the benefit
  • a description of the benefit provided
  • any cost to employee
  • cost to the employer for goods
  • normal market price for services
  • highest price charged to the general public for subsidised transport.

You should also keep tax invoices, where appropriate.

Last updated: 21 Oct 2024
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