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  • Reducing your reportable fringe benefits amount

    You can choose to reduce the amount of fringe benefits shown on your income statement (through ATO online services in myGov) or payment summary for future years. This may better suit your circumstances.

    You can reduce your reportable fringe benefits by:

    • cashing out benefits – arranging with your employer to replace your fringe benefits with cash salary
    • making employee contributions out of your after-tax income towards the cost of the benefits. This is generally by making a cash payment to your employer or the person who provided the benefit. (For example, you can make an employee contribution towards a car fringe benefit by paying a third party for some of the operating costs – such as fuel –that your employer doesn't reimburse.)
    • changing the benefits you receive to exempt benefits.

    See also:

    Last modified: 24 Dec 2020QC 58435