The Australian Taxation Office has announced that a fringe benefits tax retraining and reskilling exemption for redundant or soon to be redundant employees is now law.
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FBT retraining and reskilling exemption now law
Employers who provide training or education to redundant, or soon to be redundant, employees may now be exempt from fringe benefits tax (FBT).
Eligible employers can apply the exemption to retraining and reskilling benefits provided on or after 2 October 2020.
There are …