Fringe Benefits under review
Fitness Australia has recently engaged Chartered Accounting firm, Deloitte Touche Tohmatsu, to undertake an important project with the ultimate aim of delivering an expansion to the Fringe Benefits Tax (FBT) exemption concerning fitness centre membership benefits. A detailed and fully-costed submission will be developed and delivered to Federal Treasury by November 2010 requesting a change of law regarding the treatment of fitness centre memberships under certain conditions.
Fitness Australia has always maintained that the current legislation is a major barrier for many in the workforce to engage in structured and professional exercise programs and services that are designed to enhance their health, fitness and wellbeing. A change to this legislation has the potential to have a large and positive impact on workforce productivity levels and will deliver long-term social, health and economic benefits for the nation.
