Ad Hoc fringe benefits overview
The Ad Hoc Benefits workpaper is designed to permit you to enter benefit details that directly flow to the FBT form. As you complete this workpaper, be aware that the FBT legislation sets down specific rules about how the taxable value of benefits is to be calculated and disclosed.
Employee contributions cannot be made against the following benefits:
- Loan fringe benefits
- Debt waiver fringe benefits
- LAFHA fringe benefits
- Tax exempt body entertainment fringe benefits
- Meal entertainment fringe benefits.
Similarly, the
Value of Reductions
column is not relevant for:- Car fringe benefits
- Debt waiver fringe benefits
- Housing fringe benefits
- Tax exempt body entertainment fringe benefits
- Car parking fringe benefits
- Meal entertainment fringe benefits.
note
For concessionally treated employers, you must allocate benefits to employees.
- The relevant $17,000, $30,000 and rebate thresholds are tested against the employee's total benefits so if you are using this workpaper the employee needs to be entered
- The only exception would be certain exempt benefits which are not under the threshold cap
Ad Hoc workpaper
The Ad Hoc workpaper was designed to allow manual entry or upload of the following information:
- Return (benefit) Type
- Employee
- Description
- Date
- Number of benefits
note
This column will be disabled for benefits not requiring a number to be disclosed on the FBT return.
- Gross Up Rate (1 or 2)
- Amount
- RFBA Excluded Amount
- Employee contribution
- Value of reduction
The following are calculated based on entry:
- Taxable Value
- Grossed Up Taxable Value
- Reportable Value
- Tax Payable
note
- Aseparate rowfor each Type 1 or Type 2 benefit must be used.
- As no testing or validation of figures occurs, using this workpaper must be entirely at therisk of the userand will rely on you having a full understanding of the implications of using this method of entering benefit details.