From www.pwc.com.au: Fringe Benefits Tax (FBT) returns must be prepared for the current FBT year, which runs from April 1, 2023, to March 31, 2024, with due dates for lodgement set for May 21 and June 25 for electronic submissions.

Preparation involves understanding various fringe benefits categories, establishing a compliance timeline, requesting necessary information early from stakeholders, reviewing records from prior years, and familiarizing oneself with internal benefit policies.

Key focus areas include ensuring accuracy in employee declarations and being aware of changes in tax laws and guidelines that may affect the FBT return preparation process.