M – Other benefits (residual)

Show at item M the value of any residual fringe benefits you provide. You may provide a residual fringe benefit when you provide an employee with either of the following:

  • any right, privilege, service or facility
  • any other benefit that is not one of the specific categories of fringe benefits included at other categories in item 23.

The transitional rules that applied to in-house residual fringe benefits provided under a salary packaging arrangement entered into before 22 October 2012 ceased to apply from 1 April 2014.

End of attention

Example: Calculate other benefits (residual fringe benefits)

An employer has a one-tonne utility with $8,000 in total operating costs for the FBT year. The employee uses the utility for both business and private purposes. The employee provides the employer with a declaration stating that they used the utility 25% of the time for private purposes. The employee has not made any contributions during the year.

The calculation for the utility as a residual fringe benefit would be:

($8,000 x 25%) – $0 = $2,000

Value of reduction is $8,000 x 75% = $6,000 (business usage).

The employer shows this at item 23 as follows:

End of example
Last modified: 27 Mar 2015QC 44652