From www.lowelippmann.com.au: The FBT year ends on 31 March 2025, prompting a review of key issues including FBT exemptions for electric vehicles, work-from-home equipment, and contractor classifications.

Employers can qualify for an FBT exemption for eligible electric cars under specific conditions, while benefits provided to independent contractors typically do not incur FBT.

Businesses must ensure proper record keeping and compliance, especially regarding employee contributions and the lodging of FBT returns to avoid potential liabilities.