Salary Packaging Resources
FBT Returns must be lodged by 21 May.
Accommodation for PBI's (Public Benevolent Institutions)
The ATO has recently released rulings for PBI's in relation to packaging holiday accommodation. This is on top of the $30,000 gross up cap.
Pooled Cars and Reportable FBT on Payment Summary
A recent discussion paper outlines the exemption of reporting on payment summaries the grossed up amounts for a pooled car.
The implications of this can affect the employee in areas such as Child Support, HELP/HECS Debt repayment and Family Tax Benefit entitlements.
Reportable employer super contributions to go on payment summary.
Reportable employer super contributions are those contributions your employer makes for you where all of the following apply:
- you influenced the amount or rate of super your employer contributes
- the contributions are additional to the compulsory contributions your employer must make under any of the following:
- super guarantee law
- an industrial agreement
- the trust deed or governing rules of a super fund
- a federal, state or territory law.
For Example - Jane is paid a salary $100,000 gross plus the super guarantee of 9% ($9,000). Jane requests to salary sacrifice $10,000 off her gross wage to her nominated super fund. The Employer now pays Jane $90,000 gross and $19,000 is sent to her super fund.
Jane's reportable super amount on her payment summary at year end is $10,000.
FBT Related ATO Rulings
Entertainment - TR 97/17
Living Away From Home Allowance - MT 2030
Minor Fringe Benefits - TR 2007/12
FBT Exempt Cars & commercial vehicles
Reporting on Payment Summary
Only report amount greater than $2000 (un-grossed up amount) or $3738 grossed up amount on payment summary. Always use 1.8692 as the gross up factor when reporting on payment summary.
Commonly Packaged Items
- Notebook computers
- Portable printers
- Work related computer software
- Mobile phones
- Certain commercial vehicles
- Developmental travel
- Tools of trade (eg brief cases and personal data assistants, tradespersons tools etc)
- Protective Clothing
- Lunches on work premises
- Minor benefits <$300
- Otherwise deductible items – such as income protection, home office, negative gearing
- Priority childcare
- In-house childcare or recreational facilities
- Taxi travel
- Membership fees and subscriptions
- Airport lounge memberships
- Newspapers and periodicals (used for business purposes)
- $500 general exemption for in-house benefits ($1000 from 1-4-07)
- Financial counseling
- Short term accommodation
- Relocation transport
- Relocation meals
- Reconnection of utilities
- Storage of household affects
- Sale and acquisition of dwelling
- Remote Area
- Exempt employer provided housing
- Rent (50% reduction)
- Housing loan interest (50% reduction)
- Housing purchase price (50% reduction)
- Motor vehicles
- Motor bikes
- Meal entertainment
- Car parking
- Certain remote area benefits
- Housing fringe benefits
- Living away from home fringe benefits
- Leasing of household goods
- Overseas holiday transport
Fully Taxed Benefits
Not usually offered due to full FBT payable unless a not for profit organisation.
- Mortgage repayments
- Credit card payments
- School fees
- Loan – interest free or low interest
- Expense payment fringe benefits