Reportable fringe benefits (RFBA) with Single Touch Payroll reporting (AR)

https://help.myob.com/wiki/x/TU3nAQ

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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 while finalising your employees at the end of the financial year.

To enter RFBA

Start End of year finalisation.
From the EOFY Finalisation tab, click the Overflow menu , and select Enter RFBA.
Enter in both the:
- Reportable fringe benefits amount
- Reportable fringe benefits amount exempt from FBT under section 57A amount
  
  The combined value of these must be above the thresholds set by the ATO.

How do I enter reportable benefits covered by Section 57A of the FBTAA 1986?

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.

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 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.

Why is an employee missing from the EOFY Finalisation list?

The RFBA fields only show up in the table when amounts have been entered.

Fringe benefits tax – rates and thresholds (ATO website)

Reportable fringe benefits thresholds

Reportable fringe benefits amount exempt from FBT under section 57A

Related topics

Set up Single Touch Payroll reporting

Task 1 - Check payroll details

Assign ATO reporting categories

Task 2 - Connect to the ATO