FastTrack360 Version 12 Online Help

Support for Capturing & Reporting Payments Subject to Fringe Benefits Tax (AU Only)

Owned by Fiona Sims
Last updated: 06 February 2022
2 min read

Description

Payments that are have been made to a Payee that are subject to Fringe Benefits Tax (FBT) can now be captured in FastTrack360 and can be reported to the ATO via Single Touch Payroll (STP).

To support this, a new tab labelled FBT has been added to the Payroll Australia > Payee > Payee Maintenance > Payee Entry screen, as highlighted below.

On the FBT tab, you can click Add to display the FBT Details screen, as shown in the next example below.

The FBT Details screen allows you to specify the following information:

  • the FBT year during which the payee received fringe benefits

  • the grossed-up, year-to-date total value of reportable, taxable fringe benefits provided to the payee in the corresponding FBT year

  • the grossed-up, year-to-date value of reportable, exempt fringe benefits provided to the payee in the corresponding FBT year, if applicable.

When a financial year is finalised by submitting an STP EOFY submission to the ATO, the system will include FBT details for any payee that has a set of FBT details with an FBT end date that falls in the financial year that is being finalised.

For more information about how to add FBT details to a payee, see Adding, Editing & Deleting Fringe Benefit Amounts.

Benefits

This enhancement provides support for capturing and reporting payments that are subject to FBT.

Configuration

No configuration required.

 

 

Classification-Public