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  • Payment summaries: Reportable fringe benefit


 

 

AccountRight Plus and Premier, Australia only

Do you pay or give your employees benefits that the ATO considers “fringe benefits”? The fringe benefits are reportable if the total taxable value exceeds the threshold set by the ATO.

Enter the grossed-up taxable value of those benefits in the Reportable Fringe Benefit step of the Payment Summary Assistant. 

Need help deciding what is a fringe benefit, or how to calculate the grossed up amount? See the ATO guidelines.

Reportable Fringe Benefits

When you have finished entering the fringe benefit amounts, you're ready to review your payment summaries.

Getting an error? If you're getting an error at this step of the assistant, you'll need to contact MYOB Technical Support for help. Call 1300 555 123 and we'll get you back up and running in no time.

  FAQs


My employee has a fringe benefit amount, but zero income. Why aren't they listed in the Payment Summary Assistant?

My employee has a fringe benefit amount, but zero income. Why aren't they listed in the Payment Summary Assistant?

If an employee has no income for the financial year, they won't appear in the Payment Summary Assistant. But if the employee requires a payment summary showing just their fringe benefit amount, complete the following:

  1. Open the employee's card (Card File > Cards List > Employee tab).
  2. On the Payroll Details tab, click the Pay History heading.
  3. Select Year-to-Date in the Show Pay History for field.
  4. Enter $100 in the Activity column for the Base Salary or Base Hourly wage category.
  5. Enter -$100 in the Activity column for one of the other listed wage categories, such as Holiday Pay or Sick Pay. These values balance each other out and are entered here to ensure the employee appears in the Payment Summary Assistant. These values have no other effect and no accounts are modified. If there are no other wage categories available for the employee you'll need to create one.
  6. Click OK, then click Close.
  7. When running the Payment Summary Assistant:
    • Ensure the wage categories used above are selected against Gross Payments at the Payment Summary Fields step.
    • Enter the employee's fringe benefit amount at the Reportable Fringe Benefit step of the Payment Summary assistant.