Housing benefits relate only to accommodation you provide that is the employee’s usual place of residence. Under the separate headings at item F, you must show:
- the number of accommodation units you provide
- the taxable value of the benefits
- any employee contributions towards those benefits.
Housing benefits provided in a remote area may be exempt benefits. Other accommodation that does not meet the requirements of a housing fringe benefit is included as a residual fringe benefit and you must show it at item M 'Other benefits (residual)'.
Example: Calculate housing fringe benefits
An employer provides a house for an employee for the FBT year. The market rental value for the year is $26,000 (52 weeks at $500). The employee pays a nominal rent of $2,600 for the year ($50 per week).
The employer calculates the housing benefit as follows:
$26,000 – $2,600 = $23,400
The employer shows this at item 23 as: