Hi there,
My employment contract in Hong Kong and which including a child/spouse education benefit and they can settle my child and spouse's tuition fee directly under the company account.
I am wondering if I need to declare it on my tax form or just need to declare my actual my salary will be received in AUD? Thank you.
Thanks,
Billy
Hi @hibilly125
It depends if the benefits are subject to Fringe benefits tax (FBT) here. Your employer would either be part of our FBT regime or not, so you'd have to have a chat with them. Where your employer is paying for an expense on your behalf you're receiving a benefit. This isn't assessable to you if its subject to FBT as your employer pays the tax.
You'd only report the value as assessable income if your employer isn't subject to FBT here.
You can read more about FBT and foreign employment income on our website.
Hi @hibilly125
It depends if the benefits are subject to Fringe benefits tax (FBT) here. Your employer would either be part of our FBT regime or not, so you'd have to have a chat with them. Where your employer is paying for an expense on your behalf you're receiving a benefit. This isn't assessable to you if its subject to FBT as your employer pays the tax.
You'd only report the value as assessable income if your employer isn't subject to FBT here.
You can read more about FBT and foreign employment income on our website.
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