1.8 Reportable fringe benefits
If an employee receives certain fringe benefits with a total taxable value of more than $2,000 in an FBT year (1 April to 31 March), you must report the grossed-up taxable value of the benefits on their payment summary for the corresponding income year (1 July to 30 June). This is called their reportable fringe benefits amount.
Benefits must be allocated to the relevant employee, including any fringe benefits you provide to associates of the employee. If employees share a benefit, you must allocate the respective share of the benefit to each of the employees. The total value of all benefits provided to a particular employee in an FBT year is known as their individual fringe benefits amount.
Before 1 April 2007, the fringe benefits reporting exclusion threshold was $1,000.
End of attention
For more on allocating benefits to employees, refer to Reportable fringe benefits.