Car Parking Benefit Workpaper
Use this workpaper for car parking benefits
To open the Car Parking Benefits workpaper, select
Benefits
, then Car Parking
from the navigation bar. The Workpaper Interface
ONESOURCE Fringe Benefit Tax provides several features that help you find information and let you organise your workspace so that it works best for you.
Customising the Grid
Some columns are hidden by default, and you can select the columns you want to show or hide. To show a hidden columns select the gear icon 
in the upper right corner and check the checkboxes next to the columns you want to show.
in the upper right corner and check the checkboxes next to the columns you want to show. You can also move and resize columns.
Toolbar Ribbon
The icons on the toolbar ribbon above the workpaper provide options for working with the workpaper.
- Delete:Select one or more rows in a workpaper and use theDeletebutton to delete individual rows.
- Delete All: Use theDelete Allbutton to delete all rows on all pages of this workpaper.
- Upload:Use theUploadbutton to upload the workpaper.
- Select All:Use theSelect Allbutton to select all rows in the workpaper.
- Save Layout:If you have customised the order of your columns, or have shown or hidden certain columns, you can use theSave Layoutbutton to lock these choices.
- Reset Layout:If you want to revert to the default column ordering and display, use theReset Layoutbutton.
- Attachments:You can select theAttachmentsbutton to attach document, such as supporting evidence or reference information. You can also use this button to download or delete and attachment.
- Export:Use theExportbutton to export workpaper data.
- Refresh:Data is validated as you enter and is saved when you select theRefreshbutton or move to the next row.
- Recalculate:The software automatically calculates and applies in-house benefit reductions, exemptions and rebates to individual benefits, and displays these in the benefit workpapers dynamically. If you have made changes to a workpaper, select theRecalculatebutton to force recalculation of changes to this benefit only.noteTheRecalculatebutton update only the current workpaper. You can use theRecalculate Alloption in the main navigation to recalculate all workpaper data.
- Freeze Columns:You can freeze columns to the left of view by selecting a column and then selecting theFreeze Columnsbutton. All rows to the left of the selected row will stay in view while all columns to the right will move with the scroll bar.
- Audit:Select a row, then select theAuditbutton to show any manual changes that have been made to the workpaper. The Audit Calc history window shows the ID of the user who made the change, the date and time, and the old and new values.
- Add/Edit Comments:Select theAdd/Edit Commentsbutton to add a comment to a workpaper, or change an existing one.
Workpaper details
Workpaper tab details
The workpaper contains optional car park location details as well as the car parking benefits.
Column heading | Description |
|---|---|
Description | A short description of the benefit provided (maximum 255 characters). |
Start Date | A mandatory item. Insert the date the benefit was first made available within the current active FBT period. Required |
End Date | An optional item. Insert the date the benefit was last made available within the current active FBT period or leave blank. Car parks with an end date do not roll forward to the next FBT period. |
Employee | The employee ID is optional (to add an employee they need to exist in the Employee workpaper. |
Cost Centre Code | The cost centre code and name will default to the employee's cost centre as allocated in the Employee workpaper or to the default cost centre for non-reportable benefits. |
Cost Centre Description | |
Address | Optional car park location details |
State | A state can be selected from the dropdown menu or use the employee's state from the Employee workpaper. |
Valuation Method | Defaults to average cost or select from the dropdown menu. |
Total Employee Contributions | This represents the amount contributed by the employee(s) in return for the provision of the benefit, which will reduce the taxable value of the benefit. The contribution is the GST-inclusive contribution. Value cannot be negative. note
The employer is required to remit GST to the ATO on the value of the employee contributions received when the provision of the benefit is a taxable supply. |
Space Value @ Start Date | For Average Cost: Insert the space value at the beginning of the current active FBT period. |
Space Value @ End Date | For Average Cost: Insert the space value at the end of the current active FBT period. |
Space Value | For Market or Commercial Value: Insert the space value for the current active FBT period. |
Gross up rate | In most cases defaults to Type 1. You can change selection this using the dropdown menu. |
Calculation Method | Choose from Statutory , Actual Spaces , or 12-week register method. |
Number of Spaces | For Statutory method: Enter the number of parking spaces being provided. For average use of spaces enter the rounded number to two decimal places. |
Number of benefits in 12 weeks | For 12-week register method: Enter the number of parking spaces in the 12-week register.For example, if you have one car parking space and it is only used one day in the 12-week period, enter 1 . If it is used every working day, enter 60 . In other words, 5 x 12 weeks and assuming there are no public holidays in that period. |
Number of benefits | For Actual Cost method: Enter the number of parking benefits provided in this FBT period.note
For statutory formula method the number of benefits will be 227.377 in non-leap years and 228 in leap years. |
Employee Contribution Applied | This is the employee’s contribution, capped at the benefit Gross Taxable Value. This is calculated as GTV - EC (capped at GTV). The cap exists as benefit values can not be less than $0. Used for reconciliation with label 23 column (b) on the FBT Form. |
Excess Employee Contribution | A calculated value of the amount of the excess employee contribution that exceeds grossed-up taxable value. |
Taxable Value | This is a calculation of the taxable value for this benefit row. Used for reconciliation with label 23 on the FBT Form. |
Grossed up Taxable Value | Calculated value depending on gross up rate selected |
Tax Payable | Calculated value of FBT payable for this benefit. |
Standard Category | Can select standard categories created for this benefit workpaper. Defaults as blank. |
GST % | A read-only display value. |
Benefit ID | An auto generated ID used in benefit tracking in reports. |
Reporting Entity | Defaults to the currently filtered reporting entity code and name. |
Checklist tab details
Checklists present questions that you should answer or issues that you should consider while preparing your FBT return. At the end of each checklist, you can click into the information to add comments or sign off on the workpaper.
Notes tab details
The
Notes
tab provides an area where preparers and reviewers can record information. The format bar lets you apply styles and formatting to notes, similar to applications such as Microsoft Word. You can also insert images and hyperlinks and can print notes.