Reportable Fringe Benefit Amount - Employer Reporting

What should employers report on an employee’s statement of earnings (which most people still call a group certificate)?           

An overview might help.

Include an amount if the total taxable value of certain fringe benefits provided to an employee in the preceding fringe benefits tax (FBT) year (1 April to 31 March) exceeds $2,000 for the FBT year.

The employer must record the grossed-up taxable value of those benefits on the payment summary for the financial year that corresponds with the reportable fringe benefits amount.

Don’t imagine for a moment that calculating these figures is easy.

So in the June 2015 employment statement, include the Fringe Benefits in the period ending 31st March 2015.

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Cristy Houghton

Embarketing, 48 Johnston Street, Wagga Wagga, NSW, 2650

Cristy's unique career has taken her from country NSW to the city lights of Clarendon Street South Melbourne and back again. With an early career in radio as a copywriter and creative strategist, she is now a Jill of all trades as a graphic designer, website builder, blog writer, video editor, social media manager, marketing strategist and more. 

In fact, give her any task and this chick will figure out how to do it! Go on, we dare you!

No, really, we DARE you!!

Cristy has won two Australian Commercial Radio Awards (ACRAs) for Best Ad and Best Sales Promotion, and even has an 'Employee of the Year' certificate with her name on it.

Cristy and her husband James have traveled extensively through Russia, China and South East Asia, and have two fur-babies, Sooty (cat) and Panda (puppy). Cristy loves drinking coffee, meeting people to drink coffee, coffee tasting and coffee flavoured cocktails. She also enjoys road trips, TED Talks and watching cat videos on youtube.