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.