FBT in staff Group Certificate

lee2267

company report car FBT Report on 31 March 2012
the FBT taxable amount calculation:  3511 *2.0647 =7249

which figure should put into staff Group certificate -Reportable Fringe benefit amount;

   3511 /(1-46.5%) = 6562 in staff Group certificate -Reportable Fringe benefit amount
or 7249 /(1-46.5%)= 13549 in staff Group certificate -Reportable Fringe benefit amount
or 7249 in staff Group certificate -Reportable Fringe benefit amount

[ 本帖最后由 lee2267 于 2012-7-16 12:04 编辑 ]

meatball

7249, after gross-up

lcx

should be $6,562.

The higher gross-up rate formula is not used to calculate an employee's reportable fringe benefits amount.

lee2267

原帖由 lcx 于 2012-7-16 12:10 发表
should be $6,562.

The higher gross-up rate formula is not used to calculate an employee's reportable fringe benefits amount.

i just checked ato webside ..
http://www.ato.gov.au/businesses ... m&page=4&H4
it said
"you must report the grossed-up value of that amount on the employee's payment summary. This amount is known as a reportable fringe benefits amount and is calculated using the following formula:

Individual fringe benefits amount / (1 - FBT rate)

[ 本帖最后由 lee2267 于 2012-7-16 12:21 编辑 ]

Lilian_wu

7429 gross up amount

simonwang

$6562.76

Always use 1.8692 for reportable fringe benefit regardless type 1 or type 2 benefit. When FBT taxable is no more than $2000, no reportable fringe benefit amount.

lee2267

原帖由 lcx 于 2012-7-16 12:10 发表
should be $6,562.

The higher gross-up rate formula is not used to calculate an employee's reportable fringe benefits amount.

thanks.. you are right... confirmed with Manager ^_^

中魂子

only use type 2 gross up.