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However, many more would use fitness centres with the right regulatory and taxation framework. Currently, only businesses with onsite fitness facilities are entitled to a Fringe Benefits Tax (FBT) exemption for fitness services provided to their workforce. This naturally excludes small and medium businesses without on-site facilities, which account for 70% of jobs in Australia.
Kelly+Partners supports the unlocking of Fringe Benefits Tax (FBT) to extend exemptions to the entire Australian workforce by including fitness services and centres that are independent of the workplace.
At Kelly+Partners, we know first hand that smaller fitness centres don’t have the same resources available as big businesses, yet are faced with the same level of regulation and compliance obligations. That's why we have a specialist team of accountants and advisors with an in-depth understanding of the fitness industry to help you every step of the way.
Kelly+Partners will allocate a client director as your direct point of contact. After sitting down with you to help define your objectives, they will then coordinate the right team of experts to best meet your specific business and personal needs.
Unique to Kelly+Partners, our approach for the fitness industry integrates:
Cash Flow + Profit
Financial Strategy
Accounting + Taxation
Loans & Financing
Professional Indemnity, Public Liability and Products Liability Insurance
Employee Share Schemes
Exit Planning
To get the most out of your business, contact one of our fitness industry accounting specialists today.
* Fitness Australia 2019
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Liability limited by a scheme approved under professional standards legislation. Each office of Kelly+Partners (Office) is a separate legal entity. Services are delivered independently by each Office. These Offices are not members of one national partnership or otherwise legal partners with each other, nor is any one Office responsible for the services or activities of any other. Kelly Partners Group Holdings Limited (KPGH) is not responsible or liable for any acts or omissions of an Office and specifically disclaims any and all responsibility or liability for acts or omissions of an Office. The titles ‘Senior Partner’ or ‘Partner’ are used only to denote seniority and level of expertise of the person within the business. It does not and is not intended to signify that the person is in a partnership involving the Office, KPGH or any other KPGH Offices.