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  • Total reportable fringe benefit amounts

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    This is for employees who receive fringe benefits from their employer and have the taxable value of those benefits recorded on their income statement/payment summary.

    Key points about reportable fringe benefits tax

    • You have a reportable fringe benefits amount if the total taxable value of certain fringe benefits provided to you or your associate (for example, a relative) exceeds $2,000 in an FBT year (1 April to 31 March).
    • Employers must gross-up this amount and report it on your income statement/payment summary. The reportable fringe benefit amount reflects the gross salary that you would have to earn to purchase the benefit from your after tax income.  
      • The lower gross-up rate for the FBT year ending 31 March 2019 is 1.8868.
      • If the taxable value of your fringe benefits is $2,000.01, your reportable fringe benefit amount is $3,773.
       

    For more information, see Reportable fringe benefits – facts for employees.

    Do not show

    • Any reportable fringe benefit amount less than $3,773.

    Completing this section

    You will need each:

    • income statement or payment summary
    • PAYG payment summary – individual non-business
    • PAYG payment summary – foreign employment

    you received that shows reportable fringe benefits amounts.

    • An income statement provides your end of year income and tax information if your employer advises that you will not be issued with a payment summary, Income statements:  
      • can be accessed through your ATO Online account in myGov
      • should be pre-filled in myTax.
       

    Don’t use any income statements that are not 'Tax Ready'. For more information, see income statements.

    • A payment summary may continue to be provided by some employers. If so, and you don’t have all your payment summaries or comparable statements, contact your employer or payer for a copy or comparable statement. If you are unsuccessful in obtaining any of these, see Lost or missing PAYG withholding payment summary.

    To update or add a reportable fringe benefits amount of $3,773 or more in myTax, go to the relevant payment type in the Income statements and payment summaries section:

    MyTax will then show your total reportable fringe benefits amounts in the Income tests section.

      Last modified: 26 Jun 2019QC 58909