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NZ Says Employee Car Parks Excluded From Fringe Benefit Tax

by Mary Swire, Tax-News.com, Hong Kong

30 November 2015


New Zealand's Inland Revenue Department has clarified that the fringe benefit tax (FBT) does not apply to car parking spaces provided to employees by their employers.

The FBT is a tax on benefits that employees receive as a result of their employment, including those benefits provided through someone other than an employer.

The IRD said in a public ruling that the provision of car park spaces owned or leased by the employer is not considered a fringe benefit and is therefore exempt from the FBT.

TAGS: tax | small business | business | holding company | fringe benefits | employees | small and medium-sized enterprises (SME) | New Zealand

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