• Review checklist

    Performing a pre-lodgment or post-lodgment review provides a good opportunity for a detailed review of all data and processes to highlight areas for improvement that can be used in completing the following year's FBT return. It also provides useful background documentation in the event of staff turnover.

    When using this checklist as part of the pre-lodgment review, less time may be spent on detailed reviews of processes and the identification of process improvements.

    Entities should undertake the following steps to complete the checklist:

    • For data items - determine whether the data for each benefit type was accurate and identify any corrections that are required.
    • For processes - determine whether the process worked effectively to enable the collation of data for each benefit type and identify areas for improvement.
    • Note any items that will require an amendment to the FBT return.
    • Determine any action that is required to improve processes.
    Attention

    This checklist is not intended to be exhaustive. Entities should, therefore, consider whether any additional reviews should be performed.

    End of attention

    Complete the table below for each of these processes/items:

    • car fringe benefits
    • tax-exempt body entertainment and meal entertainment fringe benefits
    • car parking fringe benefits
    • expense payment, property and residual fringe benefits
    • LAFHA and fringe benefits provided as a result of living-away-from-home or relocation
    • housing and board fringe benefits
    • loan and debt waiver fringe benefits
    • amendment to FBT return required
    • action to improve processes.

    Review tasks

    Yes/No

    Data provided by third parties (for example, salary packaging provider(s) and/or fleet provider(s))

     

    Data provided by work areas

     

    Data collated by FBT staff

     

    Data collection and collation processes

     

    Taxable value calculations

     

    FBT calculations

     

    Sign-off and review procedures

     

    Documentation (for example, declarations)

     

    Benefits allocated to employees

     

    RFBA calculations

     

    Communication processes (for example, communications with salary packaging providers, fleet providers and employees (as applicable))

     

    Systems used to capture FBT data (both information technology systems and paper-based systems)

     

      Last modified: 23 Jul 2015QC 18627