Hi
I just want to clarify, something with Staff long service gifts.
I know that at 15yrs the exempt amount is $1000 and a $100 each year after. and if they get a 15yr gift, any subsequent award can only be $100 per year to be exempt.
My question is does this apply before 15yrs as well?
We give long service awards at 5yrs $250, 10yrs $500 15yrs $750 increasing $250 for each 5 years after that, so 20yrs $1000 etc.
does the $750 they have already received make the 15yr $750 gift ineligible for the exemption?
Also because it's a long service award is the $250 given at 5yrs still considered to be a minor Benefit and is FBT exempt?
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Most helpful replyATO Certified Response
Author: StephATO(Community Support)Community Support ATO Certified Response7 May 2021
Hiya @Clayton2,
The awards given at 5 and 10 years are not considered to be long service awards for the sake of FBT.
As long as the 5 year award meets all of the eligibility criteria for the minor benefit exemption, the fact that you consider it a benefit for long service, would not effect the exemption.
The amounts paid previously, would not impact the exemption on the amount paid at 15 years, because for FBT purposes they are not considered long service awards.
Information about FBT exempt benefits are found in Chapter 20.8 Other Exemptions.
I will provide the link below. You will also find the eligibility for the minor benefits exemption on this page.
Chapter 20 - Exempt Benefits
