How do I enter reportable benefits covered by Section 57A of the FBTAA 1986? UI Text Box |
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| AccountRight 2017.1 or later is required. |
If Section 57A of the Fringe Benefits Tax Assessment Act 1986 applies to you, there are changes to how fringe benefits are reported on payment summaries. 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 on the payment summary, and show other reportable fringe benefits provided to the employees separately. Select the Section 57A of the FBTAA 1986 applies to me option in the Reportable Fringe Benefit step of the Payment Summary Assistant. You can then enter the fringe benefits you’ve provided that are covered by Section 57A, and separately enter the other reportable fringe benefits you provided to your employees that are not covered by Section 57A.
How payment summaries will display reportable fringe benefitsIf amounts are entered in both the Section 57A RFB and Other RFB columns for an employee, two payments summaries will be prepared for them, as required by the ATO: - One payment summary will show the amount of fringe benefits covered by Section 57A and the Is the employer exempt from FBT under section 57A of the FBTAA 1986? question on the payment summary will be marked as Yes.
- The second payment summary will show the amount of “other” reportable fringe benefits, and the Is the employer exempt from FBT under section 57A of the FBTAA 1986? question will be marked as No. On this payment summary, no other payment details will be printed.
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