Your agency may do this differently.
The process for FBT may differ by agency. Talk to your finance team or see your agency intranet.
Contact and support
If you have a work car and you garage it at or near your home, it is considered available for private use and could give rise to an FBT liability, regardless of whether you actually used it privately.
Keeping an accurate logbook is critical to reducing agency FBT costs.
This may apply if your agency provides car parking at or near your place of work.
This may apply if your agency pays for or reimburses you for food, drink or recreation for you or an associate (friend, family, other Queensland Government employee). Client entertainment is not subject to FBT.
This may apply if your agency pays for or reimburses you for an expense you incur e.g. Study and Research Assistance Scheme (SARAS), living away from home allowance (LAFHA), telephone, internet, travel, membership fees.
If you receive certain fringe benefits with a total taxable value of more than $2000 in an FBT year (1 April to 31 March), your agency must report the grossed-up taxable value of the benefit on your payment summary for the corresponding income year (1 July to 30 June). This is your reportable fringe benefits amount. This amount is not included in your assessable income.
The ATO has categorised FBT into 13 types, each with their own rules. The most common types are:
- car fringe benefit
- car parking fringe benefit
- expense payment fringe benefit
- entertainment fringe benefit.
The FBT declaration permits agencies to claim a reduction in the taxable value of some benefits. It must be provided before lodging the FBT return. Where no declaration is submitted, FBT is applicable.
Submitting your FBT declaration on time enables QSS Taxation to accurately calculate your agency’s FBT reductions, saving your employer money.