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  • Reportable fringe benefits

    If the value of certain fringe benefits you provide to an individual employee exceeds $2,000 in a fringe benefits tax (FBT) year (1 April to 31 March), you must report the grossed-up taxable value of those benefits on their payment summary or through Single Touch Payroll for the corresponding income year (1 July to 30 June). These are called reportable fringe benefits.

    You need to allocate the reportable fringe benefits to the relevant employee and include any fringe benefits provided to associates of the employee. The amount reported on their payment summary or income statement in myGov is not included in an employee's assessable income; nor does it affect the amount of standard Medicare levy payable. However, it is included in income tests for some government benefits and obligations.

    Where employees share a benefit, you must allocate their respective shares individually.

    See also:

    Last modified: 29 Mar 2019QC 43879