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AccountRight Plus and Premier (v2018.2 and later), Australia only
Do you pay or give your employees benefits that the ATO considers 'fringe benefits'? These fringe benefits are reportable if the total taxable value exceeds the threshold set by the ATO.
To tell the ATO about Reportable fringe benefits amounts (RFBA), enter the grossed-up taxable value of those benefits when finalising your employees at the end of the financial year.
- Go to the Payroll command centre and click Payroll Reporting.
- Click Payroll Reporting Centre.
- Click the EOFY Finalisation tab.
- For each employee with fringe benefit amounts:
- Click the ellipsis button for the employee and choose Enter RFBA.
- Enter in both the:
- Reportable fringe benefits amount $
- Reportable fringe benefits amount exempt from FBT under section 57A $. The combined value of these must be above the thresholds set by the ATO.
- Click Add amounts.
Select each employee you want to finalise, then click Set as Final.
Enter your name and click Send.
Reportable fringe benefits FAQs
If Section 57A of the Fringe Benefits Tax Assessment Act 1986 applies to you, you can report this to the ATO via Single Touch Payroll reporting.
Affected businesses are mainly not-for-profit organisations, such as public benevolent institutions, health promotion charities, some hospitals and public ambulance services.
If Section 57A applies, you need to report the benefits that fall under that section in the Reportable fringe benefits amount exempt from FBT under section 57A field, and show other reportable fringe benefits provided to the employees in the Reportable fringe benefits amount field.
These don't need to be reported separately.
If an employee has no income for the financial year, they won't appear in the EOFY Finalisation list. To get them to appear, you'll need to process a $0 payrun. To do this:
- Start a new pay run for the employee.
- Enter the pay Memo as "Report FBT" or similar. The date should be within the relevant financial year.
- Enter wage amounts as zero.
- Zero out all sick leave and holiday pay accrual amounts.
When you process the pay, the software will automatically calculate the amount of superannuation needed to adjust your employee's super to the new correct amount providing it is for the current month. Should the adjustments relate to prior months the figures will need to be entered manually in the Pay Employee window. These pays will appear as VOID in your accounts.
The employee will now be listed and you can enter their RFBA and finalise them.
Only employees who have been paid in the current payroll year appear in the EOFY Finalisation list. If an employee isn't listed, check that:
- the employee's Employment Basis is set to Individual or Labour Hire. You'll find this setting in the Payroll Details tab > Personal Details of the employee's card. Employees set as Other won't appear in the list.
- at least one pay been recorded for the year, after setting up STP.
If you've checked these things and an employee still isn't showing, record a $0 (zero dollar) pay for employee. Remove all hours and amounts from the pay. When the $0 pay is recorded, you'll be prompted to declare and send the details to the ATO. The employee's YTD amounts are then sent to the ATO and the employee will appear in the finalisation list.