what is mean by fringe benefits?

Answer 1

The day to day application of the term "fringe" means on the edge of something. Fringe benfits are benefits that you get indirectly from your employment ie they are sort of a side effect of the job and a direct form of payment by the employer. Fringe benefits take on a vast array of forms and can include anything from the boss paying your bills, providing fre accomodation, use fo a car, free holidays etc.
These benefits are taxed because it used to be used a means of avoiding tax .. where the employer instead of paying someone $50,000 (which the employee would be taxed on) they would pay $20,000 and perhaps pay all the employees rent or mortgage payments etc. The employee would then get the benefits of $50,000 income but was only taxed on part of it... hence the fringe benefits tax regime.
FBT is really complex so the most simplistic way of looking at is is a fringe benefit is any thing you gain/benefit from tht you havent had to pay for and which if you had a different job/employer you wouldnt get.
Typically company cars for excutives to drive around in but also get to use them for private npurposes outside of work hours would be a fringe benefit because in any other situation you would have to use your own car to go to the shops or touring around at the weekend.

The ATO FBT overview may be of help to you:
http://www.ato.gov.au/individuals/content.asp?doc=/content/fbt_report_arrange_employees.htm&pc=001/002/027/002&mnu=&mfp=&st=&cy=1

Answer 2

Fringe Benefits Definition

Answer 3

There is far more to the total cost of an employee than just his or her salary or hourly wage. Fringe benefits, those perks that employees receive for free along with a paycheck, can add a substantial amount to human resource expenses. Also, job seekers may want to compare the offer of one company to another using the most complete data. Here's how to calculate fringe benefits for either situation https://tr.im/KDpd0

Answer 4

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RE:
What is mean by fringe benefits?

Answer 5

Direct benefits are your salary, vacation, health insurance, etc.

Fringe benefits would include any non-standard rewards for your job. A spa day gift from a client as a "thank you". A pair of opera tickets from a prospective advertiser. A logo t-shirt package for the employees from the new food service vendor in the cafeteria.

Answer 6

Frindge benefits are benefits that dont usually make part of your fixed component, but are added benefits mainly because of the position/designation you hold in the organisation, frindge benefits therefore vary from employee to employee as per their grades in the organization. Frindge benefits include benefits such as Car + Diesel Allowance, House decoration and renovation allowance, School admission for employee's children, and such benefits that mostly personal in nature.

Answer 7

http://www.onelook.com/?w=fringe+benefit&ls=a

OneLook: All ya wanna know from 15 Dictionaries. Quick Def'n:

*noun*: an incidental benefit awarded for certain types of employment (especially if it is regarded as a right) (Example: "A limousine is one of the fringe benefits of the job")

Answer 8

In the US, it has two meanings. The traditional meaning is related to work; it refers to retirement plans, health insurance, and other extras that might be included with the wages.

The second meaning is slang used by younger people meaning a sexual relationship. The term "friend with benefits" is used to refer to someone who isn't a great romance but a friend with whom they've drifted into a sexual relationship.

Answer 9

Its best to go see an Accountant and not ask on an internet forum, as you can get a certainty from an accountant that you cannot get on the internet.