• Reporting on employees payment summaries

    If you provide fringe benefits with a total taxable value of more than $2,000 to an employee in an FBT year, you must report the grossed-up taxable value of the fringe benefits on the employee's payment summary for the corresponding income year (1 July to 30 June).

    Recreation must be reported on your employee's payment summary.

    However, the following fringe benefits are excluded from the reporting requirements. Although they are excluded from the reporting requirements, you still need to pay FBT on them:

    • entertainment by way of food and drink, and benefits associated with that entertainment, such as travel and accommodation
    • hiring or leasing entertainment facilities such as corporate boxes.

    If these benefits are provided under a salary packaging arrangement on or after 1 April 2016, they are not excluded from the reporting requirements.

    Note that exempt benefits are not fringe benefits. They are not reportable on your employee's payment summary

      Last modified: 29 Nov 2016QC 19917