Press Release – #FITnotFBT: Get our tax system into shape
LET’S GET OUR TAX INTO SHAPE
Fitness Australia launched #FITnotFBT: Get our tax system into shape which aims to create a healthy and productive workforce for all Australians.
Currently, large employers who can provide fitness training services on their premises qualify for a Fringe Benefits Tax (FBT) exemption. However, if a small business, which doesn’t have the space on-site wants to provide the same service via the local gym or a registered trainer in the local park they don’t qualify for the exemption.
“Given that small to medium businesses account for 70% of the jobs, it seems perverse to have a tax incentive that excludes the majority of business owners from helping to create a healthier, more productive workforce. It’s not fair,” said Lauretta Stace, CEO
#FITnotFBT: Get our tax system into shape campaign proposes to expand the FBT exemption to apply to services also offered ‘off-site’.
“Expanding the FBT exemption is vitally important because 60% of Australian adults don’t get enough exercise and more than 63% are overweight or obese.”
Physical inactivity is the fourth leading risk factor for mortality causing an estimated 3.2 million deaths worldwide. Conversely, physical activity is the second most important factor in disease prevention after quitting smoking.
Furthermore, the total economic cost of physical inactivity to our economy is estimated to be $13.8 billion and the cost of obesity is $37.7 billion annually.
“It is critical that the place where we spend most of our time, outside of our home, promotes a healthy lifestyle.”
“#FITnotFBT is about levelling the playing field, giving all employers, regardless of size, the tools to provide a healthy workforce.
“Government has a role to play, through providing incentives to businesses to help them implement healthy initiatives” Ms Stace said.
For more information and to support the campaign visit www.FITnotFBT.org.au
Justin is the Managing Director of Active Management, which he began January 2004. He offers coaching to businesses worldwide in everything from start up and design to marketing and sales systems. Justin also facilitates four Australian and New Zealand ‘fitness industry roundtables’ events, which allows him to see a huge cross section of business models.