FBT rates and thresholds

Various rates and thresholds relevant for calculating FBT are updated on 1 April each year. Updated figures for the current FBT year (i.e. 2021–22) include:

  • record-keeping exemption threshold – $8,923 (previously $8,853);
  • statutory or benchmark interest rate – 4.52% (previously 4.80%);
  • car parking threshold – $9.25 (previously $9.15).

The cents-per-km rates (for motor vehicles other than cars) for the 2021-22 FBT year are:

0-2500ccOver 2500ccMotor cycles
56c67c17c
These are unchanged from the 2020–21 FBT year.

Weekly food and drink expenses

The weekly food and drink expenses for the 2021–22 FBT year that the ATO accepts as reasonable for a living-away-from-home allowance (LAFHA) paid to employees living away from home within Australia are:

 Per week $
1 adult*283
2 adults425
3 adults567
1 adult and 1 child354
2 adults and 1 child496
2 adults and 2 children567
2 adults and 3 children638
3 adults and 1 child638
3 adults and 2 children709
4 adults709
Each additional adult142
Each additional child71
*A person is considered an adult for LAFHA purposes if they were 12 years or older before the beginning of the FBT year.

The weekly food and drink expenses for the 2021–22 FBT year that the ATO accepts as reasonable for a living-away-from-home allowance (LAFHA) paid to employees living away from home outside of Australia are set out in Taxation Determination TD 2021/3.

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