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  • Amounts reported on your payment summary or income statement

    The reportable fringe benefits amount (RFBA) shown on your payment summary or income statement in myGov for an income year (1 July to 30 June) is the grossed-up taxable value of the reportable benefits provided in the previous FBT year (1 April to 31 March).

    For example, the RFBA on your payment summary or income statement for the year ending 30 June 2019 would be the grossed-up taxable value of the reportable benefits provided from 1 April 2018 to 31 March 2019.

    Your employer calculates your RFBA by multiplying the taxable value of the reportable fringe benefits by the lower gross-up rate of 1.8868 for the FBT year ending 31 March 2019. For example, if the taxable value of your fringe benefits is $2,000.01, your RFBA is $3,773.

    The RFBA reflects the gross salary that you would have to earn to purchase the benefit from your after-tax income.

    Example: working out amounts for payment summaries

    Between 1 April 2018 and 31 March 2019 (the 2019 FBT year), Tim's employer provided him with a work car. The taxable value of Tim's car fringe benefit is $2,500. Tim and his partner also stay in company coastal accommodation several times a year, with a taxable value of $800. These benefits are reportable.

    The taxable value of Tim's fringe benefits total $3,300. The grossed-up taxable value of these benefits will appear on his payment summary for the income year ending 30 June 2019.

    The lower gross-up rate for the 2019 FBT year is 1.8868, so the grossed-up amount reported on Tim's payment summary is $6,226. This is calculated as follows:

    Total taxable value × 1.8868

    = $3,300 × 1.8868

    = $6,226

    End of example

    See also:

    Employment finished between 1 April and 30 June

    If you finish employment between 1 April and 30 June, having received fringe benefits during this time, your employer must show the RFBA on your payment summary for the income tax year ending on 30 June in the following year. If your employer reports through Single Touch Payroll, the fringe benefits you received between 1 April and 30 June will be recorded on your income statement for the following year.

    As the FBT year ends on 31 March, the employer can't report any fringe benefits they provide between 1 April and 30 June until the following 31 March. Thus you may have a RFBA from a former employer even though you won't have received any salary or wages from them in the following income year.

    Your employer has until 14 July following the end of the income year covered by the payment summary or income statement to provide you with this information either in a payment summary or by finalising their Single Touch Payroll data to generate your income statement on myGov. You will have to report the RFBA from your former employer from the earlier income year on your individual income tax return at label IT1.

    Example: Finishing employment

    Joan finishes employment with her employer on 15 May 2018. From 1 April 2018 to 15 May 2018, she receives fringe benefits from that employer with a reportable value of $4,000.

    Joan's employer is required to report this reportable fringe benefits amount on Joan's payment summary or through Single Touch Payroll for the income year ending on 30 June 2019. The employer has until 14 July 2019 to issue the payment summary or finalise their Single Touch Payroll data. Joan records the RFBA on her income tax return at label IT1 for the year ending on 30 June 2019.

    End of example
    Last modified: 29 Mar 2019QC 58428