A Fringe Benefit is a benefit provided to an employee (or their associate). Benefits can be provided by an employer, an associate of the employer, or by a third party under an arrangement with the employer. An employee can be a current, future or former employee.
Fringe Benefits Tax (FBT) is a tax paid on these benefits it is separate from income tax and is based on the taxable value of the various fringe benefits provided. The FBT year runs from 1 April to 31 March.
For more information see the ATO website for the Fringe Benefits Tax Guide