Reportable fringe benefits
This information forms Chapter 5 of Fringe benefits tax – a guide for employers.
As an employer, you must record the value of fringe benefits provided to each of your employees.
If the value of certain fringe benefits provided exceeds $2,000 in a fringe benefits tax (FBT) year (1 April to 31 March), you must record the grossed-up taxable value of those benefits on your employee’s payment summary for the corresponding income year (1 July to 30 June). You may also have to report the notional value of certain exempt benefits.
Remember, a fringe benefit may be provided by another person on behalf of an employer. It may also be provided to another person on behalf of an employee, for example, a relative.